BlockBeats News, March 3rd: The situation in the Middle East deteriorated sharply. The US and Israel launched a large-scale airstrike against Iran. Iran confirmed that multiple senior officials, including the Supreme Leader, were killed in the attack and retaliated. Following the US-Iran conflict, on the first trading day, the US stock market experienced a sharp V-shaped reversal after initial panic selling, with the S&P and Nasdaq initially falling over 1% before turning positive.
According to Bitget data, the US stock market closed slightly higher on Monday, with the S&P 500 index up slightly, the Nasdaq up 0.36%, and the Dow down 0.15% at the close. Analysts stated that the market has initially absorbed the selling pressure caused by the US-Iran conflict, believing that the current geopolitical risk is still under control financially. QCP stated that the Middle East conflict has increased short-term volatility but does not affect the long term, and some traders are positioning themselves for a rebound.
Cryptocurrencies also rose simultaneously. According to HTX market data, Bitcoin briefly surged above $70,000, currently trading at $69,088, with a 24-hour gain of 4.47%. Ethereum is currently priced at $2,036, with a 24-hour gain of 4.42%. In the past 24 hours, the total liquidation across all networks was $359 million, with $227 million in short liquidations.
The US dollar index strengthened due to escalating safe-haven demand amid the Middle East conflict, ultimately rising by 0.9% to 98.55. The yield on the benchmark 10-year US Treasury closed at 3.951%, while the yield on the 2-year US Treasury sensitive to the Federal Reserve’s policy rate closed at 3.385%.
