Geopolitical tensions that recently gripped global markets appear to be easing as of March 10, 2026, following optimistic remarks from U.S. President Donald Trump regarding the conflict with Iran. After a week of intensifying military exchanges, the President suggested on Monday that the war could be over “very soon,” claiming that U.S. and Israeli forces had already neutralized a significant portion of Iran’s military infrastructure, the CoinDesk said in a report.
The immediate relief in geopolitical pressure has sparked a notable recovery across the digital asset landscape. Bitcoin (BTC), which maintained resilience throughout the period of maximum uncertainty, has rallied past the $70,000 threshold, marking a gain of over 4%. This bullish momentum has extended to the broader market; the CoinDesk 20 Index, ether (ETH), solana (SOL), and XRP (XRP) have all climbed between 3% and 5%. Smaller-cap assets recorded even sharper gains, with HYPE, ZEC, and RENDER jumping by 7% to 11%.
Market liquidity indicators suggest that investors are positioning for a sustained upswing. The market capitalization of USDC, the second-largest dollar-pegged stablecoin, is nearing its record high of $78.6 billion, continuing a strong recovery from its late-January low. Simultaneously, the supply of the leading stablecoin, USDT, has edged up to $184 billion. Analysts view this increase in stablecoin supply as “dry powder” sitting on the sidelines, ready to be deployed into risk assets as the market rally gains traction.
Despite the prevailing optimism, some technical indicators suggest a need for continued vigilance. The Coinbase Premium Index — which tracks the price difference between the U.S.-based Coinbase exchange and offshore platforms like Binance — remains in negative territory. Historically, sustained bull runs are accompanied by a positive Coinbase premium; the current negative reading indicates that demand from U.S. retail and institutional investors may still be lagging behind the global average.
In the broader financial landscape, the cooling of war fears has led to a retreat in traditional safe-haven metrics. Crude oil prices have dropped back below $100 per barrel after a recent spike, while the U.S. dollar index and Treasury yields have similarly pulled back from their recent peaks. This stabilization in traditional markets provides a supportive backdrop for risk assets, though market participants remain alert to any further shifts in the Middle East.
