Bitcoin held above $72,000 on Thursday, trading near a four-week high, as markets recover from volatility linked to the ongoing Middle East war. The conflict, sparked by US and Israeli strikes on key Iranian sites and Tehran’s retaliatory missile attacks, has heightened global uncertainty and disrupted trade, particularly through the Strait of Hormuz. This initially sent investors fleeing to other assets, as traders sought a safe haven amid uncertainty over how long the war might last. However, Bitcoin has outperformed traditional safe havens like gold in recent days. Since Friday, gold has fallen nearly 2%, while Bitcoin has climbed roughly 12%, reversing the trend of recent months. So far in March, nearly $700 million has flowed into US Bitcoin ETFs, reflecting renewed appetite for digital assets despite ongoing geopolitical and macroeconomic risks.
