Bitcoin Breaks $72K, Altcoins Surge on Easing War Fears
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- Bitcoin broke decisively above $72,000 for the first time since the Feb. 5 crash, trading at $72,180 (up 5.9% in 24 hours), after being rejected at the $70,000 ceiling three times over the past month.
- Ether climbed 7.5% to $2,114, reclaiming $2,000 for the first time since late February, while dogecoin surged 7.5%, Solana added 5.3% to $89.91, XRP rose 4.2% to $1.41, and BNB gained 3% — Tron lagged at just 1.4%.
- U.S. spot bitcoin ETFs attracted $700 million in inflows since the start of March, providing a structural bid alongside the price breakout.
- Asian equities rallied for the first time since the Iran war broke out, with South Korea's benchmark surging 11% after recording its biggest single-day drop on record in the prior session.
- The Iran-Israel conflict remains active: U.S. and Israeli forces sank an Iranian warship in international waters, Tehran continues targeting Israel and Gulf states, and Defense Secretary Pete Hegseth said operations could last "six, could be eight, could be three" weeks.
- The Strait of Hormuz situation is stabilizing with U.S. tanker escorts underway, and oil has pared its early-week spike — though the article notes the recovery in U.S. and European futures looked "tentative" Thursday morning.
Why it matters: Traders who bought the Feb. 5 crash just saw Bitcoin finally bust through the $70,000 ceiling that had rejected it three times in a month. With U.S. forces sinking an Iranian warship and Hegseth warning operations could run 3-8 more weeks, the rally signals markets are increasingly betting escalation peaks here rather than widens regionally.
