Bitcoin rises 2.8% as global markets slump on Iran conflict and oil surge: Crypto Markets Today
Bitcoin rose 2.8% while traditional markets like stocks and gold fell amid geopolitical tensions and surging oil prices.Summary
Bitcoin increased by 2.8% during European trading hours, showing relative resilience as global markets slumped due to the Iran conflict and a surge in oil prices to $115 per barrel. U.S. equity futures (Nasdaq 100 and S&P 500) dropped over 1.5%, and traditional safe havens like gold and silver weakened, with investors favoring the U.S. dollar instead. Trading firm QCP noted that Bitcoin's utility as a "digital escape hatch" is becoming more relevant amid political uncertainty in Gulf countries. Derivatives markets showed significant liquidation of bearish oil bets, while open interest in Bitcoin futures remained steady near weekly lows, suggesting the rally wasn't fully supported by futures traders. However, altcoins and DeFi tokens rallied, with DASH, XMR, and ZEC gaining significantly, and ETHFI and MORPHO outperforming BTC and ETH. Despite persistent downside concerns indicated by put premiums, the overall implied volatility structure suggests traders are pricing in higher short-term risk related to the ongoing conflict.
(Source：CoinDesk)