In the one and a half weeks following the U.S.-Israeli assault on Iran, Bitcoin is faring better than gold and stocks. As per Binance, since the war commenced, the original cryptocurrency has risen by approximately 7%, and on Wednesday, it was changing hands at around $71,000. Gold has remained almost at the same price, trading at about $5,240, which is roughly where it was on the morning of February 28, when the first strikes targeted Iran. The S&P 500 has declined by about 1% during that period.
Bitcoin’s performance is a heartening sight for individuals in the digital assets sector, as the original cryptocurrency had a dismal few months prior. It sank to as low as $63,000, a 50% drop from its all-time peak in October. Crypto stocks have gained because they can be traded at any moment and aren’t subject to banking hours unlike traditional stocks.
“Crypto’s 24/7 framework is becoming more and more an advantage for the asset class,” stated Gabe Selby, head of research at CF Benchmarks. “When the Iran conflict intensified over the weekend, crypto-native markets were the sole platform open for global risk trading; this is a structural benefit that traditional markets can’t duplicate.”
The original cryptocurrency also appears to be capitalizing on President Trump’s recent remarks that the war might be coming to an end. On Monday, Trump told CBS News, “I think the war is pretty much over,” stating that Iran had “nothing left militarily.” Bitcoin has increased by about 4% since those remarks were made.
Other cryptocurrencies have also experienced a boost since the start of the war with Iran. As per Binance, Ethereum has risen by about 7% since February 28th to its current price of around $2,070, and Solana has also gone up by about 7% during that time to its current price of roughly $87.
Selby further stated, “From a technical standpoint, looking ahead, Bitcoin is aiming for its recent local high, the $72,000–$73,000 resistance zone. A sustained close above that level with volume shifts the story from a short squeeze to a genuine momentum recovery.”