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Bitcoin rose nearly 2% toward $72,000 in mid-February, extending its rally to a fifth consecutive session as the cryptocurrency remained largely insulated from escalating tensions in the Middle East. The US-Israeli war with Iran remained unabated, as oil prices surged after Iran’s new supreme leader, Mojtaba Khamenei, vowed to keep the Strait of Hormuz shut and ramp up attacks on regional oil and transport infrastructure. The incidents have pushed energy prices higher, reviving concerns about resurgent global inflation and prompting major central banks, including the Federal Reserve, to signal a hawkish stance, potentially putting pressure on risk-sensitive assets such as cryptocurrencies. Investors are now awaiting US economic data for further clues on the Fed’s policy path. Despite these uncertainties, capital has recently begun flowing back into Bitcoin after months of selling pressure drove prices to roughly half of the record high above $126,000 reached in October.

Bitcoin rebounded to around $70,000 on Tuesday, rising roughly 2% as investor concerns over the Middle East tensions softened. US President Donald Trump made remarks that the conflict would resolve shortly. The move reflects a broader shift in market sentiment, with equities recovering sharply and oil prices retreating after Monday’s surge. The crypto rally came alongside a rebound in regional equities, with Japan’s Nikkei 225 up more than 3% and the MSCI Asia Pacific Index rising nearly 3%. Oil prices retreated sharply, with Brent dropping to $91.37 a barrel, supporting the rebound in risk assets, including cryptocurrencies. Ether, XRP, and Solana also recorded modest gains. Traders remain cautious, noting that geopolitical tensions could flare unexpectedly, potentially undermining the recent upside.

Bitcoin held above $72,000 on Thursday, trading near a four-week high, as markets recover from volatility linked to the ongoing Middle East war. The conflict, sparked by US and Israeli strikes on key Iranian sites and Tehran’s retaliatory missile attacks, has heightened global uncertainty and disrupted trade, particularly through the Strait of Hormuz. This initially sent investors fleeing to other assets, as traders sought a safe haven amid uncertainty over how long the war might last. However, Bitcoin has outperformed traditional safe havens like gold in recent days. Since Friday, gold has fallen nearly 2%, while Bitcoin has climbed roughly 12%, reversing the trend of recent months. So far in March, nearly $700 million has flowed into US Bitcoin ETFs, reflecting renewed appetite for digital assets despite ongoing geopolitical and macroeconomic risks.