Bitcoin has maintained its floor above $66,000 even as gold hits its longest losing streak in years and Asian equities edge toward correction territory, highlighting a break from traditional safe-haven behavior amid ongoing geopolitical risk.
The Iran conflict, now in its fourth week, is disrupting typical market patterns. Gold fell for a ninth straight day, sliding to roughly $4,360, while Asian stocks declined for a third consecutive session. Bond yields climbed as investors factored in potential inflationary pressure and further central bank rate hikes.
S&P and European futures point to continued weakness, and Brent crude rose to $113 a barrel, up more than 70% year-to-date.
Crypto resilience amid market stress
Bitcoin has shown relative stability in a turbulent week. Trading at $68,316 Monday morning in Asia, BTC rose 1.5% over 24 hours but remained down 6% for the week. Ether gained 2.7% to $2,059, while XRP rose 2% to $1.38. Tron advanced 0.3% to $0.309, recording the only major weekly gain at 3.8%. Among other large-cap tokens, BNB fell 1.2% to $627, Solana dropped 2.5% to $86.54, and Dogecoin lost 1.7% to $0.09, down 7.4% on the week.
Gold’s sharp decline contrasts with Bitcoin’s steadiness.
Traditionally a safe-haven in times of geopolitical unrest, gold has now fallen roughly 18% from its recent highs. Meanwhile, Asian equities are edging closer to correction territory.
“Global cues remain decisively weak. Asian markets are witnessing sharp declines, with Japan’s Nikkei 225 plunging nearly -4.63%, while South Korea’s KOSPI has dropped around -5.29%, reflecting intense risk aversion and panic selling across global equities. This reinforces the negative setup for Indian equities and suggests that volatility will remain elevated throughout the session,” said Ponmudi R, CEO of Enrich Money.
Despite week-long volatility, Bitcoin remains above the $66,000 floor that has held through every prior war-driven sell-off since late February.
Expert perspective
Alexander Blume, CEO of SEC-registered investment advisor Two Prime, said the market moves are driven more by structural factors than short-term panic.
“China and other nations have been systematically buying gold as part of a broader strategy to reduce exposure to the U.S. dollar,” Blume said.
Blume added that Bitcoin and derivatives markets “have held up decently well” under current conditions.
“That buying has reversed as the conflict intensified and liquidity became the priority over safety.”
Two Prime is positioned for higher funding and futures rates in the coming weeks, effectively taking a contrarian view that an upside surprise is more likely than markets currently price in.
Geopolitical context
The conflict’s market impact is compounded by recent U.S. policy statements. Former President Donald Trump issued a 48-hour ultimatum on Saturday to “hit and obliterate” Iranian power plants if the Strait of Hormuz is not reopened.
Iran responded that any such strike would trigger an indefinite closure of the waterway and retaliatory attacks on U.S. and Israeli energy infrastructure.
Energy market response
Crude prices are reacting to the geopolitical tension. Goldman Sachs raised its full-year Brent crude forecast to $85 from $77 and WTI to $79 from $72, citing potential disruption in the Strait of Hormuz as “the largest-ever supply shock for global crude markets.”
“Assuming that Hormuz flows remain at 5% [of normal flows] through April 10, prices are likely to trend higher over that period,” Goldman analysts said,
Adding, that governments recognition of the risks surrounding concentrated supply and limited spare domestic capacity could further lead to greater stockpiling and long-dated prices.
The ongoing Iran conflict, combined with macroeconomic uncertainty, has created an unusual scenario: gold and equities underperforming while Bitcoin and select cryptocurrencies retain relative strength.
Investors and market participants are closely monitoring how these dynamics evolve in the coming weeks.
Gunel Ismayilova
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that, despite the nature of much of the material created and hosted on this website, HODL FM operates as a media and informational platform, not a provider of financial advisory services. The opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice, HODL FM strongly recommends contacting a qualified industry professional.
