Crypto
Bitcoin Resilient as Oil Prices Soar Amid Iran Conflict
Bitcoin has shown unusual resilience in the face of rising energy prices and geopolitical tensions between the US and Iran, holding steady at around $79,900 despite a surge in oil prices to over $96 per barrel.
The lack of an immediate crypto selloff is notable, especially given that earlier episodes of conflict have sent Bitcoin sharply lower as traders reacted to rising energy prices and Treasury yields.
This time, however, another force is working in the opposite direction: institutional ETF demand. U.S. spot Bitcoin ETFs attracted $905.4 million in just two trading days, with BlackRock's IBIT accounting for $571.4 million across those sessions alone.