Ether, solana, xrp surge 8% as crypto markets rally on easing war fears
Ether surged 7.5%, dogecoin jumped 7.5%, and solana added 5.3% as global equities rebounded and $700 million flowed into U.S. spot bitcoin ETFs since the start of March.
By Shaurya Malwa Mar 5, 2026, 6:29 a.m.
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What to know:
- Bitcoin broke decisively above $72,000 for the first time since its Feb. 5 crash, lifted by easing war anxiety, strong ETF inflows and a rebound in equities.
- The rally extended across major cryptocurrencies, with ether, dogecoin, solana, XRP, BNB and WhiteBIT Coin all posting sizable gains while Tron lagged.
- Markets appear to be moving past the initial shock of the Iran-Israel conflict as oil prices retreat, the Strait of Hormuz stabilizes and investors increasingly discount a worst-case regional escalation.
Bitcoin finally got through the door.
The largest cryptocurrency broke above $72,000 on Thursday, its highest level since before the Feb. 5 crash and the first clean move above the $70,000 ceiling that had rejected it three times in the past month.
It was trading at $72,180 in Asian afternoon hours on Thursday, up 5.9% over the past 24 hours and 5.4% on the week, as a combination of easing war anxiety, strong ETF flows, and a broader equity rebound pulled risk appetite back into the market.
The rally was broad. Ether climbed 7.5% to $2,114, reclaiming $2,000 with conviction for the first time since late February. Dogecoin surged 7.5% to $0.095. Solana added 5.3% to $89.91. XRP rose 4.2% to $1.41 and BNB gained 3% to $650. WhiteBIT Coin jumped 5.6%. The only notable laggard was Tron, up just 1.4%.
The trigger was a shift in global risk sentiment. Asian equities rallied for the first time since the Iran war broke out, with South Korea's benchmark surging 11% after its biggest drop on record in the previous session.
Wall Street had led the way after economic data eased inflation concerns, though the recovery looked tentative with U.S. and European futures edging lower Thursday morning.
The conflict itself remains unresolved, however. Tehran is still targeting Israel and Gulf states. U.S. and Israeli forces continued striking Iran, including sinking an Iranian warship in international waters. Defense Secretary Pete Hegseth said operations could last "six, could be eight, could be three" weeks. Trump said "we're doing very well on the war front" and that the U.S. has "great support."
But markets have moved past the initial shock and into pricing mode. The Strait of Hormuz situation appears to be stabilizing with U.S. tanker escorts underway. Oil pared its early-week spike.
And the worst-case scenario of an uncontrolled regional escalation looks less likely with each day that passes without a dramatic widening of the conflict.
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By Omkar Godbole|Edited by Sam Reynolds47 minutes ago
The strategy aims to build upside exposure in March and April while minimizing upfront cost.
What to know:
- Quant-focused trading firm TDX Strategies is recommending a low-cost "bullish risk reversal" on bitcoin, using premiums from selling out-of-the-money puts to finance the purchase of out-of-the-money calls.
- The structure aims to build upside exposure in March and April while minimizing upfront cost.
- TDX sees potential geopolitical headline-driven volatility, including risks tied to the anticipated confirmation of Mojtaba Khamenei as Supreme Leader, as a tactical opportunity to enter this options-based bullish position.
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