Bitcoin (BTC) price hits $71,800 as investors rotate into havens during Middle East escalation
Bitcoin reached a one-month high near $72,000, driven by increased demand for safe-haven assets amid Middle East conflict escalation.Summary
Bitcoin (BTC) surged to $71,800, marking a one-month high and approaching the $72,000 resistance level last seen in early February. This rally occurred as investors sought haven assets due to escalating tensions in the Middle East, which also saw gold and silver prices increase significantly. While U.S. equities lagged, altcoins like KITE, AERO, and TAO posted double-digit gains, suggesting a slight return of risk appetite in smaller crypto segments. Derivatives data indicates renewed interest in holding positions, with open interest rising 8% to nearly $103 billion, supported by positive funding rates, although downside fears persist as puts remain pricier than calls on Deribit. The overall crypto market sentiment is cautiously optimistic, reflected by the Fear and Greed index rising to 19/100.
(Source：CoinDesk)