The US and Iran are brewing war! BTC briefly fell below $65,000, while gold and silver surged again.

Geopolitical tensions between the US and Iran have escalated sharply, with a US carrier strike group deployed to the Persian Gulf. Several governments have issued urgent appeals for their citizens to evacuate from Iran. On March 27, the Chinese Foreign Ministry issued a reminder to its citizens not to travel to Iran and to evacuate those already in the country as soon as possible. On the same day, the US State Department designated Iran as a "state sponsor of illegal detention," again urging all US citizens in Iran to leave immediately.

Under the shadow of war, global risk assets were sold off, with both cryptocurrencies and the US stock market under pressure.

BTC and ETH break through key support levels

Bitcoin fell below $65,000 in the early hours of the 28th, and Ethereum fell below $1,900.

The total market capitalization of cryptocurrencies is currently at $2.347 trillion, down 2.0% in the last 24 hours.

Amid a generally declining market, a few tokens bucked the trend and rose. The top gainers included: SAHARA, up 50.2% in the last 24 hours, currently trading at $0.0225; ALICE, up 38.2%, trading at $0.144; SIGN, up 17.8%, trading at $0.028; and Binance Life, up 14%, trading at $0.074.

The Nasdaq and S&P 500 both recorded their biggest monthly declines, while crypto-related stocks generally fell.

U.S. stocks closed February with a dismal performance. The Nasdaq fell 3.38% in February, and the S&P 500 fell 0.87%, both marking their biggest monthly declines since March of last year. This morning, the Nasdaq closed down another 0.92% and the S&P 500 fell 0.43%.

US-listed crypto stocks generally declined, with BitMine Immersion (BMNR) falling the most at 7.05% ; SharpLink Gaming (SBET) down 5.41% ; Riot Platforms (RIOT) down 4.68% ; Circle (CRCL) down 4.28% ; Strategy (MSTR) down 2.95% ; and Coinbase (COIN) down 2.88% .

Safe-haven funds continue to flow into gold and silver.

As risk assets were sold off, the precious metals market became a safe haven for funds. Spot gold prices held steady above $5,200 , trading at around $5,247 per ounce; silver also strengthened, trading at around $92 per ounce, with a single-day increase of over 5%.

Market analysts point out that if the situation between the US and Iran deteriorates further, soaring oil prices could push up inflation expectations, thereby reducing the Federal Reserve's room for interest rate cuts and putting greater pressure on risk assets.