Bitcoin Price Rises as War Escalates. Why Cryptos Are Havens Once Again. — Barrons.com
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By Alex Kozul-Wright
The price of Bitcoin, which fell to nearly $65,000 over the past 24 hours, was rising early Monday amid fears of a widening conflict in the Middle East.
The world's largest cryptocurrency was up 1.5% to $67,462, according to CoinDesk data. Meanwhile, Ethereum and XRP both rose 3% and 1%, respectively.
Crypto-related stocks were also in the green. Robinhood, a digital asset brokerage, was up 2.1% ahead of the bell, while Strategy — the largest corporate holder of Bitcoin — rose 1.7%.
As the war enters a second month, President Donald Trump is weighing up a military operation to extract 1000 pounds of uranium from Iran, according to The Wall Street Journal.
In the opening weeks of the war, cryptocurrencies appeared to act like hedges against global economic uncertainty.
But they fell back in the second half of March, as news about risks to the future of the Clarity Act — legislation seeking to regulate digital assets — emerged.
Now, as the war enters its second month, cryptocurrencies may be reclaiming their war haven status again. "That could well be happening," Nexo analyst Iliya Kalchev told Barron's in an interview.
"Bitcoin has been left out from the broader macro narrative. Unlike stocks and gold, it's price has been quite resilient [to events in the Middle East]," Kalchev said.
He added that: "Cryptos are in a 'wait-and-see' mode... traders may want to hold their positions."
Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260330001946:0/
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