Geopolitical uncertainty has historically driven demand into gold as a safe-haven asset. But after the U.S. and Israel strikes on Iran, gold paused while Bitcoin reversed its downtrend and rose sharply. The market is reevaluating cryptocurrency as an alternative safe-haven asset, reviving the ‘digital gold’ debate on Wall Street. On Thursday, Bitcoin traded around $72,600 at 4 p.m., up about 5.8% from the previous day.
The token had rebounded roughly 15% from late last month, briefly crossing the $74,000 level, the highest in about a month. Ethereum and XRP and other major cryptocurrencies also rose. The rise in crypto prices reflects multiple factors. Glassnode said markets are moving from crisis pricing to positioning, with positioning becoming the core driver of price movements.
Bloomberg reported about $680 million flowed into U.S. Bitcoin ETFs in the past 2–3 days. Kim Yoon-jung of LS Securities attributed Trump’s support for the crypto bill Clarity Act to relief on regulatory uncertainty. Trump himself on his social media on the 3rd said the crypto industry is a strategic sector for the United States and called for regulatory reform. Market observers note Bitcoin’s resilience amid war shocks, with some arguing it could serve as a hedge during financial shocks.
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