Trump announces "Victory in Iran War," Bitcoin surges strongly back to $70,000, Ethereum rises in tandem

March 12 News, U.S. President Trump announced that the United States has achieved “victory” in the military conflict with Iran, and stated that the approximately 10-day “Epic Fury Operation” has largely accomplished its main objectives. As signals of easing tensions emerge in the Middle East, global financial markets’ risk sentiment has significantly improved, and the cryptocurrency market has responded quickly.

In a public speech, Trump said that the U.S. military has destroyed about 80% of Iran’s missile launch facilities and most of its naval forces, describing the military action as a “short-term minor incident.” Although U.S. forces will maintain a certain level of deployment to ensure regional stability, the shift from conflict escalation to a “victory narrative” is seen by the market as an important sign of decreasing geopolitical risk.

As risk aversion diminishes, some funds are shifting from traditional safe-haven assets like gold and the US dollar to risk assets. The cryptocurrency market has become one of the key indicators reflecting this change in sentiment.

Affected by war concerns, Bitcoin briefly dropped to the mid-$60,000 range earlier this week but quickly rebounded on expectations of de-escalation, rising over 5% and regaining the $70,000 psychological level. Meanwhile, Ethereum and various mainstream digital assets also recovered, pushing the total global cryptocurrency market cap back to approximately $2.45 trillion.

From a technical perspective, Bitcoin remains in a consolidation phase since its high in February. The key resistance level to watch is around $72,500. If the daily close can stabilize above this level with increased volume, the market may confirm a breakout and enter a new upward trend.

On the support side, the $67,500 to $68,000 range is considered an important short-term defense line. As long as the price stays above this zone, the overall bullish structure remains intact. Regarding technical indicators, the BBP momentum indicator has turned green, which is generally seen as a short-term bullish signal, indicating that buying momentum is beginning to dominate.

Market analysts believe that the current rally is mainly driven by expectations of decreasing geopolitical risks. Whether the upward trend can continue depends on whether the situation truly moves toward a ceasefire and if international oil prices remain stable. If tensions in the Middle East further ease, the uncertainty premium in the market may gradually diminish, creating conditions for Bitcoin to push into higher price ranges. Some investors even refer to this scenario as a “Trump peace deal,” believing it could be a significant catalyst for Bitcoin to reach six figures.