Bitcoin absorbs the initial shock

When tensions erupted between the United States, Israel, and Iran, Bitcoin $BTC was not spared from the initial panic.

However, this drop did not last: by the following week, the #bitcoin had regained strength, showing a low of 68,000 dollars on March 7, then holding above 69,400 dollars after the attacks on tankers on March 12.

Rocketing rise after the panic

As the military escalation continued in the Middle East, the #bitcoin.” distinguished itself by its ability to bounce back faster and stronger than most traditional assets. The Saturday following the attack on Kharg Island, it maintained a floor of 70,596 dollars. Meanwhile, its technical ceiling remained between 73,000 and 74,000 dollars: an area that repelled four attempts at further takeoff in two weeks.

The following Friday, Bitcoin briefly exceeded $73,000 before retreating by 3.5% in a few minutes during a new Iranian escalation – dropping from nearly $74,000 to around $71,200. Despite this sudden drop, it still showed a net gain of nearly 2% for the day and a progression of about 11% since the beginning of the conflict. By comparison, gold was then retreating by an additional one percent, and American indices like the S&P 500 were losing between 0.4% and 0.5%.

In less than fifteen days, Bitcoin has established itself as one of the few assets to show positive performance while most markets wavered.

Traditional markets lagging

The reaction of the stock markets sharply contrasts with that of Bitcoin. Since the outbreak of the Iran/United States conflict at the end of February until mid-March, the S&P 500 and Nasdaq indices have erased their initial gains and slipped into the red. Asian stocks as well as the Korean market have also underperformed against Bitcoin during this period. Even gold, traditionally seen as a safe haven during international crises, failed to hold its ground: it dropped by about one percent further while Bitcoin was climbing.

The only notable exception concerns crude oil and the U.S. dollar. WTI rose to nearly $98 on Thursday before slightly dropping to around $94.50 on Friday. This rapid increase – more than five dollars in session – reflects concerns about global energy supply following attacks on Iranian oil infrastructure. Meanwhile, a high correlation (84%) between Bitcoin and Nasdaq over fifty days is observed according to cointelegraph.com: indicating that investors still perceive some links between crypto assets and tech stocks despite their recent divergent trajectories.

On the institutional flows side, Bitcoin spot ETFs recorded four consecutive days of net inflows totaling nearly $583 million – a strong signal as many players remain cautious in the face of ambient volatility.

The level of $74,000 is unyielding

For two weeks, Bitcoin has consistently struggled against the resistance located between $73,000 and $74,000.

From panic lows to peaks

The behavior of the market #Bitcoin❗ during this crisis highlights several unprecedented dynamics. Despite increased volatility – with intraday variations sometimes exceeding three or four thousand dollars – open interest in futures contracts surged by nine percent in twenty-four hours to reach approximately seven hundred thousand BTC in early March. This is the highest level since early February. Furthermore, for fourteen consecutive days (a record since December 2022), the average funding rate on these contracts remains negative: this indicates that many operators are still betting on a quick correction after each surge.

In March alone, $BTC already shows an increase close to eight percent despite global geopolitical and economic shocks. The American economy also shows signs of fatigue with growth limited to only zero point seven percent in the last quarter of 2025 according to a report published this Friday by the U.S. Department of Commerce. This context undoubtedly fuels the search for alternatives to traditional assets among some investors.

Why Bitcoin fascinates in times of crisis

The current sequence illustrates well why Bitcoin attracts so much attention during periods of international uncertainty. Its ability to rebound quickly after a major shock – like the one on Saturday where it lost more than eight percent before erasing its losses in a few days – intrigues as much as it reassures some seasoned investors. According to coindesk.com, only oil and the dollar have outperformed Bitcoin since the beginning of the Iran/United States conflict among all major global financial assets.

Nonetheless, the resistance around seventy-four thousand dollars remains strong: four consecutive rejections testify to persistent caution among operators despite the recent influx into spot ETFs or derivative contracts. If this barrier were to yield sustainably while still tense in the Middle East and marked by sluggish American growth, it could open a new chapter for the leading cryptocurrency… but nothing is guaranteed as long as uncertainty prevails.

What to observe

The ceiling of $73,000 to $74,000 has rejected Bitcoin four times; if this threshold is breached during the next sessions, it will mark a new immediate all-time high. Also to watch is the final report on American economic growth expected on April 9, which could influence the crypto market dynamics in the short term.