Bitcoin is holding firm above $70,000 despite rising tensions in the Middle East. The ongoing U.S.-Israeli conflict with Iran has shaken traditional markets, but crypto is showing strength.
The global crypto market cap now stands at $2.44 trillion. That marks a 1.49% rise in the past 24 hours. Bitcoin traded between $70,389 and $71,940 during the day. By 09:30 AM UTC, BTC was priced at $71,847, up 1.65%.
Bitcoin has gained around 7% since the conflict escalated in late February. Many analysts say investors see Bitcoin as a hedge during uncertain times. Unlike stock markets, crypto trades 24/7, which allows faster reactions to global news.
Other major cryptocurrencies also posted gains. Some smaller tokens saw sharp jumps. Token C surged 77%, COS rose 35%, and the PSG fan token climbed 17%. These moves appear driven mostly by hype and short-term trading.
While crypto moves up, Gulf stock markets are under pressure. Dubai’s main index slipped, with major firms like Emaar Properties and Emirates NBD facing losses. Investors worry about oil supply risks and regional instability.
Oil prices have risen due to fears around the Strait of Hormuz. Saudi Arabia’s market showed some strength thanks to energy stocks, but overall sentiment in the region remains cautious.
The gap between crypto and stocks is clear. Bitcoin’s ability to stay above $70,000 shows strong momentum for now. However, experts warn that a longer or wider conflict could still trigger volatility across all markets.
