The long-standing narrative of Bitcoin acting as a "Digital Gold" safe-haven asset is being severely tested in February 2026. As escalating tensions between the US and Iran drove investors toward traditional assets like physical gold, Bitcoin failed to respond, instead sliding below $72,000. Market experts point out that during times of extreme geopolitical stress, investors prefer assets with centuries of history over digital ones. This has led to a confidence crisis among "Store of Value" proponents. The current market behavior suggests that crypto is still primarily viewed as a "Risk-On" asset, moving in tandem with tech stocks and speculative growth sectors rather than acting as a hedge.
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