Bitcoin Rallies Near 6-Week High Amid Middle East Conflict
Bitcoin surged to $73,000 on Wednesday, its highest level in roughly a month, as investors sought safe-haven assets amid ongoing global conflict in the Middle East. The move brought Bitcoin close to $72,000, a level it last touched on February 8 before sliding back to $65,000 in the weeks that followed.
The buying pressure came from traders unwinding short positions built on fears of a wider regional war, market participants said. When conditions did not deteriorate further, those bets were forced to close, adding fuel to the upside move.
Precious metals moved in parallel with crypto on the day, with gold rising 1.8% and silver climbing 5.3%. Bitcoin gained 4.8% over the same period, while U.S. equities remained largely flat, lagging the broader crypto market recovery.