After the US-Iran conflict, US stocks saw a V-shaped reversal on the first trading day, and bitcoin rebounded to break above $70,000.

BlockBeats news, on March 3, the situation in the Middle East sharply deteriorated as the US and Israel launched large-scale airstrikes against Iran. Iran confirmed that several senior officials, including the Supreme Leader, were killed in the attacks and launched counterattacks. On the first trading day after the US-Iran conflict, US stocks experienced panic selling at the opening but staged a deep V-shaped reversal, with the S&P and Nasdaq dropping more than 1% intraday before turning positive.

According to Bitget data, at the close of US stocks on Monday, the S&P 500 index edged up, the Nasdaq rose 0.36%, and the Dow preliminarily closed down 0.15%. Analysts stated that the market has initially digested the selling pressure brought by the US-Iran conflict, believing that the current geopolitical risks remain financially manageable. QCP noted that the Middle East conflict has increased short-term volatility but does not affect the long term, and some traders are positioning for a rebound.

Cryptocurrencies also rose in tandem. According to market data from a certain exchange, bitcoin once rebounded above $70,000 and is now quoted at $69,088, up 4.47% in 24 hours. Ethereum is currently quoted at $2,036, up 4.42% in 24 hours. Over the past 24 hours, total liquidations across the network reached $359 millions, with short positions accounting for $227 millions.