Bitcoin price surged to $67,000 following unverified reports about Iran's Supreme Leader being killed, demonstrating cryptocurrency's sensitivity to major geopolitical events. The price movement highlights Bitcoin's role as a potential safe-haven asset during times of international uncertainty.
Bitcoin's price declined following news of US military action against Iran, while tokenized gold products like Tether's XAUT experienced significant price increases. This market movement reflects traditional safe-haven asset behavior during geopolitical tensions.
Bitcoin dropped approximately 7% following Trump's military action against Iran, falling to around $63,000 and erasing recent weekly gains. Contrary to expectations of Bitcoin serving as a safe haven asset, crypto markets experienced selling pressure rather than inflows during this geopolitical tension.
Peter Schiff predicts that the current divergence between Bitcoin and precious metals will continue throughout the year, with Bitcoin declining while gold gains value. This suggests a potential shift in investor preference from cryptocurrency to traditional safe-haven assets.