TLDR
- Bitcoin fell 8.5% at the onset of the U.S.-Iran war but has since recovered approximately 11% from its trough.
- Every subsequent escalation in the conflict has sparked selling pressure, yet Bitcoin continues to attract buyers at elevated price points.
- Over the same two-week timeframe, BTC has delivered stronger returns than both gold and the S&P 500.
- Major Bitcoin holders, known as whales, have resumed accumulation around the $71,000 level, now commanding 68.17% of the total supply.
- Blockchain indicators indicate minimal technical resistance separating current levels from the $82,000 region.
Bitcoin presently trades at $71,500.
The U.S.-Iran war commenced on Saturday, February 28. Bitcoin stood as the sole major market operating that day. It declined 8.5% to $64,000, marking its lowest level.
Two weeks onward, the landscape appears transformed.
Bitcoin has advanced approximately 11% from that nadir. It presently trades near $71,500. Throughout the same period, gold has experienced volatility, the S&P 500 has declined, and Asian equity markets suffered their most severe week since 2020. Only crude oil — which has surged over 40% — and the U.S. dollar have eclipsed Bitcoin’s performance. Both assets serve as direct beneficiaries of the conflict.
A Rising Floor After Every Sell-Off
Each escalation since February 28 has precipitated a Bitcoin sell-off. Yet on every occasion, purchasers have intervened at progressively higher levels.
Following Iran’s retaliatory missile strikes on March 2, the price established a floor at $66,000. After seven days of sustained hostilities on March 7, the baseline reached $68,000. In the wake of tanker attacks on March 12, BTC maintained support at $69,400. Subsequent to the Kharg Island strike on March 14, the trough touched $70,596.
This represents an ascending support trend of approximately $1,000–$2,000 per incident.
Concurrently, Bitcoin has faced rejection on four separate occasions near the $73,000–$74,000 range. That ceiling has remained intact. A resolution appears imminent — either Bitcoin penetrates above $74,000, or a more significant escalation ultimately overwhelms purchasing power.
Earlier in the year, an abrupt liquidation event erased $2.5 billion in leveraged positions across a single weekend, pulling Bitcoin down to $77,000. That incident seems to have eliminated overleveraged exposures, resulting in a market that has subsequently digested repeated war-related headlines without experiencing a comparable breakdown.
Whales Accumulating, On-Chain Data Points to $82K
Information from cryptocurrency analytics firm Santiment reveals that substantial Bitcoin wallets — those containing between 10 and 10,000 BTC — have initiated accumulation once again near the $71,000 mark.
These wallets presently command 68.17% of Bitcoin’s total supply, an increase from 68.07% recorded a week earlier. Santiment characterized the movement as a “positive reversal.” The platform is monitoring whether retail investors start to offload holdings, a development that has historically indicated the formation of a market bottom.
The Crypto Fear & Greed Index registered 16 on Sunday — squarely within the “Extreme Fear” territory.
U.S. spot Bitcoin ETFs recorded their initial five-day inflow sequence of 2026 this week, attracting roughly $767 million.
Bitcoin $BTC has entered a low-resistance zone, with little standing in the way until $82,045.
Meanwhile, the key support floor sits at $66,898. pic.twitter.com/t6tWZe85vq
— Ali Charts (@alicharts) March 13, 2026
On-chain analyst Ali Martinez, referencing the UTXO Realized Price Distribution indicator, observed that Bitcoin presently encounters minimal resistance between current levels and approximately $82,045. The $74,000 rejection area, he highlighted, exhibits limited investor cost-basis activity, implying it may prove less formidable than it seems.
The subsequent significant support level beneath current prices rests near $66,898.
Bitcoin has gained 7.55% across the previous 30 days. BTC presently trades at $71,500.
