– Bitcoin climbed above $71,000, gaining over 6% in 24 hours despite Middle East conflict.
– Spot Bitcoin ETFs attracted $458 million in one-day inflows as institutions buy the dip.
– BTC held key support near $65,000 while gold retreated from recent highs.
– Ray Dalio notes Bitcoin’s relative outperformance amid the worst geopolitical week in years.
Bitcoin (BTC) has surged past $71,000, posting gains of more than 6% in the past 24 hours and demonstrating notable resilience amid escalating geopolitical tensions in the Middle East.
The move comes as the conflict involving the U.S., Israel, and Iran has disrupted traditional markets, with gold prices retreating from recent highs and Asian equities facing pressure from rising energy concerns related to the Strait of Hormuz. Bitcoin, by contrast, has held key support levels around $65,000 since the tensions intensified.
Institutional capital continues to flow into Bitcoin through spot ETFs. U.S.-listed funds saw approximately $458 million in net inflows on a recent day, contributing to over $1.4 billion in the past five days, according to market data tracked by outlets like CoinDesk and The Block. BlackRock’s IBIT was a major beneficiary.
Analysts attribute this to institutions viewing Bitcoin as a diversifier. “Institutions appear to be positioning for a macro recovery and are leaning on Bitcoin’s structural fundamentals,” noted BTC Markets Crypto Analyst Rachael Lucas.
Bridgewater Associates founder Ray Dalio weighed in, stating “There is only one gold” while acknowledging Bitcoin’s relative outperformance during the crisis, where it fell less than the yellow metal. Dalio maintains a small allocation to Bitcoin for portfolio diversification.
The broader market followed suit, with major altcoins like Ether and Solana also posting gains. However, experts caution that further escalation in the conflict could introduce additional volatility.
This development underscores Bitcoin’s maturing role in institutional portfolios amid global uncertainty. Investors should monitor ETF flow data and geopolitical developments closely.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
