It's been 24 days since the war involving the United States, Israel and Iran began and the situation is showing some improvements.
Over the weekend, President Donald Trump said the U.S. and Iran had made progress toward easing tensions in the Middle East.
In a Truth Social post , Trump said the two sides held "very good and productive conversations" over two days, raising hopes of a broader de-escalation.
He added that planned U.S. strikes on Iranian power plants and energy infrastructure would be paused for five days, as per continued diplomatic progress.
Related: Cathie Wood warns oil could plunge 50% amid Hormuz crisis
TradFi rebounds as oil prices retreat
Traditional markets reacted swiftly.
Right after the market bell on March 23, Dow Jones Industrial Average jumped 1.72%, while S&P 500 climbed 1.49% and Nasdaq Composite rose 1.79%.
The biggest catalyst came from oil. Crude prices, which had spiked amid geopolitical uncertainty, reversed course sharply. At press time, West Texas Intermediate (WTI) crude fell more than 8% to around $89 per barrel, while and Brent crude fell more than 11% to $103 per barrel.
The pullback in energy prices eased fears of prolonged inflationary pressure and a potential global recession.
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Crypto follows upward trend
Crypto markets followed the broader risk-on sentiment.
Bitcoin (BTC) gained 3.5% to trade near $71,000.20, while Ethereum (ETH) rose 4% to around $2,158. XRP (XRP) added 2.2% to hover near $1.4, and Solana (SOL) climbed 3.4% to $90.4.
Crypto-related stocks also opened higher. Major crypto exchanges such as Coinbase (NASDAQ: COIN) and Robinhood (NASDAQ: HOOD) rose 2% and 1.68%, respectively.
Michael Saylor's Strategy (NASDAQ: MSTR) opened 2.68% higher after announcing it purchased 1,031 BTC at $74,326 last week, bringing total holdings to 762,099 BTC. Circle, however, slipped slightly by 0.05%.
Overall, easing geopolitical tensions appear to be restoring investor confidence across both traditional and digital asset markets.
Related: Popular Dubai crypto event cancelled due to Iran war, offers refunds
This story was originally published by TheStreet on Mar 23, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
