Bitcoin was trading at around $71,000 on Saturday morning, down 0.7% over the prior 24 hours after the United States bombed military targets on Kharg Island, Iran’s main crude export facility. Over the past week, bitcoin has risen about 4.2% as other major tokens posted gains. Prices faced a stubborn resistance in the $73,000–$74,000 area, a level that has rejected advances multiple times in the past two weeks.
Trump’s post on Truth Social suggested he would reconsider supporting oil infrastructure if Iran continues blocking the Strait of Hormuz, injecting a new variable into markets. Iran signaled retaliation against U.S.-linked facilities in the region should energy infrastructure be attacked, contributing to higher oil prices. Markets now weigh whether oil above $100 a barrel and the ongoing war will force a rethink of rate expectations ahead of the Federal Reserve’s March 17–18 meeting.
A Cambridge study spanning 11 years and 68 verified submarine cable failures finds Bitcoin’s network would require 72% to 92% of the world’s cables to fail simultaneously before meaningful global node disconnections occur. While random cable faults have historically had negligible impact, targeted attacks on chokepoints or major hosting providers could disrupt the network disproportionately. The growing use of TOR by Bitcoin nodes has paradoxically strengthened the network by concentrating relay infrastructure in highly connected European countries that are harder to isolate.
Around the week, Ether rose 5.5% to $2,090, Dogecoin up 5%, Solana up 4.2% to $88, and BNB up 4.5% to $655. All major tokens were green on the week, underscoring resilience as markets price in geopolitical risk and potential policy shifts.
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