Bitcoin steady near $66,000 as Asia stocks fall, oil jumps on US-Iran war
Bitcoin remained steady near $66,000 despite geopolitical shocks, while Asian stocks fell and oil prices surged due to escalating US-Iran tensions.Summary
Bitcoin and major cryptocurrencies remained relatively steady on Monday morning in Asia, with BTC trading around $66,772, as traders processed escalating U.S.-Iran tensions over the weekend, which included reports of the death of Iran's supreme leader.
Analysts noted that crypto's reaction was modest compared to traditional markets. Crypto markets acted as an initial venue for de-risking due to 24/7 liquidity, with Bitcoin holding near $66,000. Traditional markets reacted more sharply upon reopening: Asian equities like Japan's Nikkei fell over 2.5%, while oil prices, particularly Brent crude, jumped more than 7%.
The market sensitivity is tied to oil prices, as a sustained rise above $90 could increase inflation expectations and tighten liquidity, negatively impacting crypto. Fears over shipping disruptions through the Strait of Hormuz are amplifying inflation concerns. Despite the macro shock, on-chain indicators showed little systemic stress in crypto, suggesting the market is treating the event as a temporary risk premium, though volatility remains elevated pending de-escalation or further macro repricing.
(Source：The Block)