After US-Iran Conflict, US Stock Market Sees First Trading Day V-shaped Reversal, Bitcoin Surges Above $70,000

March 3 — As Middle East tensions escalated sharply, the U.S. and Israel launched large-scale airstrikes against Iran. Iran confirmed multiple senior officials, including the Supreme Leader, were killed in the attack and retaliated. Following the U.S.-Iran conflict, U.S. stocks opened sharply lower on the first trading day but staged a sharp V-shaped reversal. The S&P 500 and Nasdaq rebounded after initially falling more than 1%. Per Bitget data, U.S. markets closed slightly higher on Monday: the S&P 500 edged up, the Nasdaq rose 0.36%, while the Dow Jones Industrial Average ended down 0.15%. Analysts noted the market has initially absorbed selling pressure from the U.S.-Iran conflict, adding current geopolitical risks remain financially manageable. QCP stated the Middle East conflict has boosted short-term volatility but does not impact the long-term outlook, with some traders positioning for a rebound. Cryptocurrencies also surged. Per HTX market data, Bitcoin briefly topped $70,000 and is currently trading at $69,088 — up 4.47% in the past 24 hours. Ethereum is now priced at $2,036, a 4.42% gain over the same period. Total liquidations across all crypto markets reached $359 million in the past 24 hours, with short positions accounting for $227 million of that total.