Trump's 5-day deadline is more than halfway through, but U.S.-Iran situation remains shrouded in mystery. The U.S. had Pakistan deliver a 15-point proposal to Iran, and Iran flat-out rejected it, calling it "psychological warfare." The White House insists talks are still ongoing, and the Strait of Hormuz situation just spiked in tension.

March's crypto market movement is quite interesting: when Trump softened his tone, BTC rallied 3% and broke through 73,000; when threats of military action came, BTC plunged below 68,000, market panic was extreme, and the fear gauge dropped straight to "extreme fear."

My take is this is an emotion-driven market, nothing else. Short-term: if talks succeed, it's bullish for crypto; if they collapse, everyone runs to BTC as a safe haven. Medium-term: if actual conflict breaks out, oil prices spike, inflation kicks in, and risk assets all suffer. Long-term: if Iran gets sanctions lifted, oil supply increases, and BTC's inflation-hedge narrative loses its edge. Both sides are currently at an impasse, so let's just watch and wait.

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