On March 23, gold prices fell 2%, approaching $4,400, marking a new low since the end of 2025, with the selloff nearly erasing gains from early 2026. The Iran war and oil crisis are impacting gold price movements, with rising crude oil prices exacerbating inflation, central banks maintaining unchanged interest rates or even hiking rates, rising bond yields weakening gold's appeal, and a stronger dollar suppressing demand. Insufficient speculative momentum is accelerating the selloff, with the market showing clear divergence on the outlook. $4,300 is a key support level; if broken, it could accelerate further selling. Analysts predict gold prices could potentially return above $5,000, but market risks and external impacts warrant caution.

On-chain investigator ZachXBT exposed an account named "Rashid bin Saeed" that attracted attention through false geopolitical information and is suspected of manipulating crypto assets. The account promoted a meme coin called CHIBI and was consistent with high volatility cases, reminding investors to be vigilant about information sources to prevent market manipulation.

On March 22, following Trump's ultimatum to Iran, Bitcoin fell below $69,200, declining 2.2% over 24 hours. Market sentiment impacted mainstream crypto assets broadly, with declines across the board despite the Federal Reserve maintaining interest rates unchanged. War risk has made traders cautious. If Iran fails to restore Strait of Hormuz passage, the conflict could escalate, impacting global energy transportation.

Ethereum Treasury Company Chairman Tom Lee maintained his year-end S&P 500 target of 7700 in an interview, viewing this as a conservative estimate. Despite the short-term impact of the war, it could benefit the U.S. economy in the long term, and the market may shift from crisis to opportunity. He pointed out that the market has already adjusted, and investors have completed their de-risking.

Middle East tensions escalating and surging energy prices have impacted global markets, with Bitcoin experiencing significant price volatility and briefly breaking below $69,000. Federal Reserve policy has intensified market pressure, with analysts believing that rising energy prices will constrain asset performance, particularly Bitcoin. Currently, Bitcoin's trajectory depends on the macroeconomic environment, with $69,000 serving as a key short-term support level.

Gate News report: On March 20, WTI crude oil (US crude oil futures benchmark price) fell to around 93.50 dollars. US and Israeli leaders are attempting to ease war concerns in the Middle East, a move that has impacted crude oil price trends.

U.S. Congressional Democratic lawmakers have introduced the "BETS OFF Act," aimed at restricting predictive betting on wars and national security events to prevent speculation using sensitive information. The bill stems from unusual betting activities, with Senators Murphy and Representatives Casar emphasizing the ethical controversies and systemic loopholes in such conduct. If the bill advances, it will impact blockchain-based event trading models.

A trader who successfully predicted Trump's election is betting that the Russia-Ukraine conflict will cease fire before 2027, investing $425,000, with the current ceasefire probability at 36%. In a social media post, the trader noted that consensus between Russia and the US to end the war is hard to stop. The US easing sanctions on Russian energy exports has sparked protests from Ukraine, and there are divisions within the European Union.

March 16 News: Sharp increases in oil prices and downward adjustments in market expectations for Federal Reserve easing policies have resulted in profits of $10 million from an options trade related to SOFR. The bet existed before the war, and as the conflict caused crude oil prices to soar, it triggered inflation concerns, prompting traders to predict that the Federal Reserve will maintain high interest rates.