#BTCReclaims70k
What to know:
Bitcoin, which was the only major asset trading when the conflict began on a Saturday, initially fell 8.5 percent but has since risen about 11 percent from its opening-day lows.
Despite selling off on every negative headline, bitcoin has repeatedly recovered to higher lows, forming a rising floor between roughly $64,000 and more than $70,000 while facing resistance around $73,000 to $74,000.
Compared with other assets over the same two weeks, bitcoin has outperformed gold, the S&P 500 and Asian equities, acting less like a traditional safe haven and more like a 24/7 liquidity pool that absorbs geopolitical shocks faster than other markets.
Bitcoin's safe-haven status — a notion that was contested amid late last year's price lull — seems to be back in investors' minds. On top of that, it's acting like the fastest shock absorber in global markets as escalations are getting bigger while drawdowns are getting smaller.
#MetaPlansLayoffs #PCEMarketWatch #AaveSwapIncident
