Bitcoin price today: steadies at $74k after brief jump; Iran war, Fed meet eyed

Bitcoin steadied above $74,000 on Tuesday, losing momentum after briefly climbing close to $76,000, as investors monitored oil price swings tied to the Middle East conflict and awaited key central bank decisions.

The world’s largest cryptocurrency last traded 1% higher at $74,215 by 10:45 ET (14:45 GMT).

Bitcoin had risen to as high as $75,991.2 in the last 24 hours.

Bitcoin supported by short coverings, ETF inflows

Bitcoin was supported by short covering as traders unwound bearish positions built during the early February sell-off. However, momentum faded through the session, leaving Bitcoin hovering near flat levels.

Renewed institutional demand and steady inflows into spot Bitcoin exchange-traded funds also underpinned prices.

"Despite the rebound, Bitcoin’s trajectory through March has not been entirely smooth. Each rally attempt has encountered selling pressure near previously established resistance zones as traders lock in profits after rapid gains," Axel Rudolph, market analyst at IG, said in a recent note.

"This has produced a pattern of advances followed by consolidation phases as the market searches for a clearer directional trend," he added.

Iran war, oil surge concerns persist; Fed meet looms

Geopolitical tensions remained in focus as the conflict involving the U.S., Israel, and Iran entered its third week, keeping risk sentiment fragile across global markets.

Oil prices fell overnight but regained ground on Tuesday, holding above $100 per barrel as concerns persisted over potential supply disruptions through the Strait of Hormuz.

Elevated energy prices have reinforced fears of prolonged inflation, influencing investor positioning across asset classes, including cryptocurrencies.

"While heightened global tensions initially triggered risk-off selling, the cryptocurrency later began trading more like a defensive asset as the situation evolved," IG’s Rudolph said.

Investors are now focused on the upcoming policy decision by the Federal Reserve, due on Wednesday. The central bank is widely expected to keep interest rates unchanged, though markets are closely watching comments on inflation risks.

Beyond the Fed, a series of global central bank meetings is scheduled this week.

Mastercard to acquire BVNK in $1.8 billion stablecoin push

Mastercard said Tuesday it has agreed to acquire stablecoin payments infrastructure firm BVNK in a deal valued at up to $1.8 billion, expanding its presence in blockchain-based transactions.

The move comes as clearer regulation and growing adoption of stablecoins open the door for card networks to move beyond traditional payment rails into faster, lower-cost digital transfers. Mastercard and Visa are both positioning to gain early traction in the rapidly developing space.

The transaction includes up to $300 million in contingent payments and is expected to close before the end of 2026.

BVNK provides infrastructure that connects fiat currencies with stablecoins, enabling payments across major blockchain networks in more than 130 countries. The acquisition would support use cases such as cross-border remittances, business payments, and payouts using digital tokens.