Bitcoin barely blinks as U.S. hits Iran, sending oil higher and stocks lower
Bitcoin has shown resilience, remaining stable despite geopolitical tensions in the Strait of Hormuz that caused oil prices to rise and equity markets to fall. While traditional assets reacted to the U.S.-Iran conflict, Bitcoin continued to benefit from strong ETF inflows and macroeconomic speculation.
Why it matters
Bitcoin's decoupling from traditional market volatility during geopolitical events is a key point of interest for institutional investors evaluating it as a 'digital gold' asset.
Oil prices rose on both sides of the Atlantic after the U.S. attacked an Iranian island in the Strait of Hormuz, a major oil tanker route that has been disrupted since the conflict began six months ago. The attack drew retaliatory action from Iran.
WTI crude futures jumped nearly 2% to $85.10, with Brent rising 1.9% to $92.39, according to TradingView. Gold fell 0.8% to $4,418 per ounce, and futures tied to the Nasdaq slipped 0.5% alongside losses in Asian equity markets.
Bitcoin, however, traded near $77,580, largely unchanged since midnight UTC, according to CoinDesk. BTC’s price has surged 23% this month versus gold’s 9% gain and the Nasdaq’s 4% rise. Other major tokens, however, traded slightly lower. Payments-focused XRP (XRP) fell by 0.8% with solana (SOL) down 0.6%.
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