Bitcoin climbed alongside Ethereum as markets responded to signals from President Donald Trump that the Iran war could end soon, lifting sentiment across risk assets.
The largest cryptocurrency rose nearly 3% to $68,897 while Ethereum gained close to 4% to $2,135, as investors positioned for a potential de-escalation in geopolitical tensions.
“If tensions ease, short-term safe-haven flows will rotate back into traditional risk,”
Said SCRYPT CEO and co-founder, Norman Wooding.
Market volatility has increased since the conflict began, although Bitcoin has recently outperformed equities, briefly reinforcing its role as a perceived safe-haven asset during geopolitical stress.
“Geopolitics has been an important driver in recent months, which helps explain Bitcoin’s outperformance relative to equities, even though it still exhibits clear risk-on characteristics,”
Said CoinShares head of research, James Butterfill.
Analysts also pointed to oil prices as a critical factor, noting that falling energy costs could ease inflation pressures and increase the likelihood of looser monetary policy, which typically supports crypto markets.
Despite short-term shifts driven by geopolitical developments, growing institutional adoption suggests long-term capital inflows into Bitcoin will remain intact regardless of conflict timelines.
At the time of reporting, Bitcoin price was $68,086.15.