The closure of the Strait of Hormuz can't stop Bitcoin's rebound! BTC, ETH, XRP prices rise across the board today

March 3 News: Despite Iran closing the Strait of Hormuz, the cryptocurrency market has rebounded, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices all rising sharply. As of today, Bitcoin is priced at $68,106, up about 3.5% for the day; Ethereum is at $1,966, and XRP is at $1.36, indicating that investor risk appetite is recovering.

Market analysts point out that recent Bitcoin ETF inflows have reached $458 million, with institutional capital returning to support the market and easing selling pressure caused by geopolitical tensions. Meanwhile, investor sentiment is gradually turning optimistic, with a noticeable increase in demand for digital assets. Despite tense Middle East tensions and ongoing US-Iran conflicts, investors seem more willing to take risks, demonstrating the resilience of cryptocurrencies.

The closure of the Strait of Hormuz has raised concerns in the global energy markets, as this critical waterway typically carries one-fifth of the world’s oil and liquefied natural gas shipments. Ebrahim Jabari, a senior advisor to the Iranian Revolutionary Guard, warned that any ships attempting to pass through the strait would be destroyed and hinted that oil prices could surge to $200 per barrel in the coming days. Against this backdrop, some funds are shifting from traditional safe-haven assets to the crypto market, driving prices higher.

Additionally, expectations that the CLARITY Act may pass have also boosted market bullishness. Optimistic regulatory outlooks and continued large fund purchases have helped BTC, ETH, and XRP perform strongly amid geopolitical uncertainties. In the short term, market focus is on institutional capital movements and policy developments affecting crypto prices, with investor sentiment and capital flows serving as key indicators.