Cryptocurrency markets declined Friday as the Iran conflict entered its fifth week without a clear resolution, though underlying data continues to indicate steady institutional accumulation.

Bitcoin hovered near $68,500, down 3.2% over the past 24 hours and 2.7% on the week, as markets were once again whipsawed by conflicting headlines—early signs of de-escalation quickly offset by renewed escalation.

U.S. President Donald Trump extended the ceasefire deadline for Iran by 10 days, stating that negotiations were progressing positively. Brent crude initially slipped 1.3% to $106 on the news, but the राहत proved short-lived after reports emerged that the Pentagon is weighing the deployment of up to 10,000 additional troops to the Middle East.

The broader crypto market fell დაახლოებით 1%, bringing total market capitalization to $2.4 trillion. Ether declined 4.6% to $2,050, falling back below a level it has struggled to hold throughout the month. Solana dropped 5.3% to $85.93, while XRP fell 2.8% to $1.36, extending its weekly losses to 6.5%. BNB slipped 2.3% to $626, and Dogecoin declined 2.8% to $0.091. Tron stood out as the only major token in positive territory, rising 1.2% on the day and 2.4% on the week.

Global equities also weakened. Asian markets declined 0.6% after Wall Street fell to its lowest level since September in the previous session. South Korean technology stocks led losses, with Samsung and SK Hynix pulling the KOSPI down 2.3%, while Taiwan’s benchmark index dropped 1.2%.

The ongoing conflict continues to generate headline-driven volatility, leaving markets choppy and without a clear directional trend.

Despite the pullback, some technical signals remain constructive. FxPro chief market analyst Alex Kuptsikevich noted that the total crypto market capitalization is approaching its 50-day moving average while still holding above it, describing this as a bullish sign.

Institutional flow data further supports a stronger underlying narrative. Bitcoin ETFs have attracted around $2.5 billion in inflows over the past month, according to Bloomberg, offsetting much of the outflows recorded earlier in the year. BlackRock’s bitcoin ETF ranks among the top 2% of all ETFs by inflows year-to-date.

At the same time, net bitcoin outflows from exchanges suggest continued accumulation, as investors move assets into long-term storage rather than positioning for near-term selling.

BlackRock also noted that large investors are increasingly concentrating their exposure in bitcoin and ether while largely avoiding the broader altcoin market.

With the Iran deadline now extended by 10 days, the next key market catalyst is likely to emerge in early April.