All three major cryptocurrencies have risen about 7% since the U.S.-Israeli attacks on Iran.
During the week and a half since the U.S.-Israeli attack on Iran, Bitcoin is doing better than gold and stocks.
Since the start of the war, the original cryptocurrency is up about 7%, and on Wednesday was trading at around $71,000, according to Binance.
The original cryptocurrency also seems to be riding the wave of President Trump’s recent comments that the war may be ending.
On Monday, Trump told CBS News, “I think the war is very complete, pretty much,” saying that Iran had “nothing left in a military sense.”
Bitcoin is up about 4% since those comments were made.
Ethereum is up about 7% since February 28th to its current price of about $2,070, and Solana is up about 7% during that time to its current price of roughly $87, according to Binance.
Crypto’s 24/7 structure is increasingly an edge for the asset class,” said Gabe Selby, head of research at CF Benchmarks.
“When the Iran conflict escalated over the weekend, crypto-native markets were the only venue open for global risk trading, this is a structural advantage that traditional markets cannot replicate.”
Bitcoin’s performance is a welcome sight for those in the digital assets sector, as the original cryptocurrency previously had a woeful few months.
Looking ahead from a technical perspective, Bitcoin is targeting its recent local high, the $72,000–$73,000 resistance area.
A sustained close above that level on volume shifts the narrative from short squeeze to genuine momentum recovery.
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