Crypto prices opened lower in Asia on Monday, with Bitcoin and Ether retreating as geopolitical tensions in the Middle East and higher oil prices pushed traders away from risk assets.
Market sentiment weakened after conflict-related headlines kept attention on energy supply risks. Reuters reported that U.S. stock futures fell as investors reacted to President Donald Trump’s 48-hour demand for Iran to reopen the Strait of Hormuz, while Iran warned it would retaliate if attacks hit its infrastructure. The immediate concern was not limited to geopolitics. Energy disruption and inflation pressure moved back to the center of trading decisions.
Brent crude was around $113.20 a barrel, while West Texas Intermediate traded near $101.32 at the start of the week. Elevated oil prices have revived inflation concerns and forced markets to reassess the rate outlook. Expectations for Federal Reserve cuts this year have been scaled back sharply, and traders are now assigning a higher probability to a rate increase later in 2026.
U.S. data this week could shape the next move
Investors are also watching a busy U.S. economic calendar between March 23 and March 27, including reports on business activity, initial jobless claims, consumer sentiment, and inflation expectations. For crypto traders, these releases could matter as much as the headlines coming out of the oil market.
The Wall Street Journal cited Deutsche Bank economists saying the March PMI data is significant because it will be one of the first indicators covering the period since the conflict began. That makes the report an early test of whether geopolitical stress has started to affect real economic activity.
Thursday’s initial jobless claims figures will add another read on labor conditions. At the same time, traders are tracking whether higher fuel costs begin to shift inflation expectations enough to alter the market’s view of Fed policy. Until those numbers arrive, positioning looks cautious.
Bitcoin trades near $68,400 and Ether near $2,000
Live market data showed Bitcoin (BTC) at about $68,400, while Ethereum (ETH) traded around $2,000. Both were below recent highs as traders reduced exposure at the start of the week.
The pressure was broad rather than crypto-specific. Rising yields, softer equities, and higher energy costs have combined to weigh on risk assets across global markets, and digital tokens have not been spared. In the absence of a fresh crypto catalyst, macro developments have taken control of short-term price action.
If oil prices keep climbing, the impact could extend into household spending. CBS News cited Oxford Economics chief global economist Ryan Sweet as saying that every one-cent increase in gasoline prices cuts consumer spending by $1.5 billion over a year. That kind of drag would add another constraint for risk markets already dealing with tighter rate expectations.