Today (March 13, 2026), the data clearly shows that Bitcoin has adopted a mixed role as both a 'digital gold' and a 'risk-on' asset, challenging traditional financial theories.

1. Macro indicators and Bitcoin's response

Generally, when DXY is above 100 and the 10-year treasury yield (4.2%+) rises, risk assets like Bitcoin come under pressure. But currently,

Bitcoin (BTC) is firmly positioned between $71,000 and $72,000. This indicates that investors now see Bitcoin as a hedge against the devaluation of fiat currency (Dollar).

Oil prices: Brent crude crossing $100/barrel is directly promoting global inflation. Historically, limited supply assets (like BTC) perform better during periods of high inflation.

2. Geopolitical conflicts and 'Safe Haven' status

The escalating tensions in the Middle East since March 1 have created uncertainty in the market. Interestingly,

In the initial shock, Bitcoin fell to $63,000 but recovered very quickly.

This recovery indicates that Bitcoin's liquidity and global reach during times of crisis are positioning it parallel to gold.

3. Miners' pivot to AI

You mentioned IREN and Cipher Digital, which is a very significant trend:

IREN: They have recently secured agreements for over 50,000 Nvidia GPUs. They do not want to remain limited to Bitcoin mining but aspire to become an 'AI infrastructure' player.

Cipher Digital: Recently (February 2026) changed its name from 'Cipher Mining' to 'Cipher Digital', reflecting their inclination towards high-performance computing (HPC) and AI.

Market response: Exchanges like Coinbase (COIN) are growing as trading volumes are high, but the decline in miners may be due to heavy capital expenditures (Capex) they are making on AI expansion, raising concerns for investors about short-term profits.

Conclusion

Bitcoin staying above $71,000 indicates that the market is no longer solely dependent on interest rates and the strength of the dollar; rather, it is driven by its internal cycle of supply and demand.