Bitcoin Hits $79.7K as Oil Tops $100 Following Iran Strikes
Bitcoin closed in on $80,000 while geopolitical shocks spiked oil past $100 and smashed European stocks.
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Key takeaways
- Bitcoin rallied up to $79,700 following military strikes by Iran.
- Brent crude oil surged past $100 per barrel while European equities tumbled.
- Crypto decoupled from stock markets, trading more like gold during the shock.
$79,700. That's where Bitcoin landed Wednesday as Middle East turmoil rattled global markets. Crypto broke clean away from stocks and ran right alongside gold.
Iranian military strikes spiked energy prices instantly, sending Brent crude past $100 a barrel. European stocks took a beating while investors ran for cover. Normally, crypto dumps with risk assets when world crises hit. Not today.
Why it matters
Traders love treating Bitcoin like a high-beta tech stock that crashes at the first sign of macro trouble. This move kills that story. When equities sink and oil hits triple digits, Bitcoin pushing $80,000 next to gold shows investors treating crypto as a genuine safe haven.
Source: CoinDesk
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