Bitcoin exchange-traded funds (ETFs) have reported a consecutive five-day inflow streak, accumulating more than $1.3 billion despite ongoing geopolitical tensions spurred by the Israel-Iran conflict. Data from Farside Investors indicates significant inflows, starting at over $386 million on June 9 and adding another $301 million over the week.
Bitcoin's price has remained relatively stable, dropping about 3% amid the turmoil but recovering to around $105,000 after briefly dipping below $103,000. Nic Puckrin, founder of Coin Bureau, emphasized the importance of the US dollar index (DXY) over geopolitical conflicts, noting, "What matters most for Bitcoin is not geopolitics, it is the DXY, which just broke below 100, the lowest level in over three years."
While Bitcoin’s price resilience has led to some analysts predicting a potential breakout toward new all-time highs, risks linger. Puckrin cautioned that if Iran were to close the Strait of Hormuz, a major conduit for global oil, energy prices could surge and severely impact market stability. The ongoing military exchanges might escalate into larger conflicts, affecting both crypto and broader markets.
As Bitcoin's adoption gains traction amid rising geopolitical uncertainty and macroeconomic challenges, it is positioned as an appealing asset for those looking for alternative investments. Analysts will be watching closely as the situation develops.
Bitcoin's price has remained relatively stable, dropping about 3% amid the turmoil but recovering to around $105,000 after briefly dipping below $103,000. Nic Puckrin, founder of Coin Bureau, emphasized the importance of the US dollar index (DXY) over geopolitical conflicts, noting, "What matters most for Bitcoin is not geopolitics, it is the DXY, which just broke below 100, the lowest level in over three years."
While Bitcoin’s price resilience has led to some analysts predicting a potential breakout toward new all-time highs, risks linger. Puckrin cautioned that if Iran were to close the Strait of Hormuz, a major conduit for global oil, energy prices could surge and severely impact market stability. The ongoing military exchanges might escalate into larger conflicts, affecting both crypto and broader markets.
As Bitcoin's adoption gains traction amid rising geopolitical uncertainty and macroeconomic challenges, it is positioned as an appealing asset for those looking for alternative investments. Analysts will be watching closely as the situation develops.
