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Crypto rose slowly alongside stock market action amid Iran tensions
In the past day, the digital asset market showed strong gains while the traditional stock market responded slowly to geopolitical developments. Bitcoin reached $70,900, a 3.65% increase over 24 hours, with other cryptocurrencies following with even higher gains.
Slow stock market response despite crypto momentum
The Nasdaq only fell 0.1% at the opening of the U.S. trading session, even though futures indicated larger declines overnight. The S&P 500 and Dow Jones Industrial Average also showed minimal changes, reflecting a slow reaction of the equity market to Iran-related tensions and other macroeconomic factors. This cautious stance is seen in traditional finance, while digital assets are responding more aggressively to market conditions.
Cryptocurrency surge: Bitcoin, Ethereum, Solana, and XRP lead
Bitcoin not only recovered from weekend lows but also reached $70,900 in current trading, with a 3.65% daily gain. Ethereum showed stronger performance with a 4.74% 24-hour increase, while Solana rose 5.80% and XRP increased 4.12%. Crypto-related equity stocks also demonstrated stronger momentum, led by Circle (CRCL) with a 12% rise, followed by MicroStrategy (MSTR) at 6% and Galaxy Digital (GLXY) at 4.7%.
Macroeconomic backdrop: Manufacturing expansion and policy implications
The ISM Manufacturing PMI reached 52.4, marking continued sector expansion and the first consecutive growth since Q2 2022. The Chicago Business Barometer also increased to 57.7 in February 2026 from 54 previously, surpassing the expected 52.8. These data indicate a second expansion cycle since November 2023 and the strongest manufacturing activity in the U.S. since May 2022.
Against the backdrop of ongoing Middle East conflict, rebounding manufacturing activity, and higher oil prices due to geopolitical risks, the Federal Reserve’s expected rate cut in March seems likely to be postponed before the March 18 meeting. The slow reaction of the stock market may reflect uncertainty about the rate trajectory and market sentiment, which remains cautious amid inflation risks and geopolitical instability.