Bloomberg: The impact of the US-Iran conflict on Bitcoin is limited, currently consolidating in the range of $60,000 to $70,000

According to Bloomberg, Bitcoin has long been touted as providing something that other markets cannot: a 24-hour real-time barometer of global risk appetite. However, after news of the U.S. strikes against Iran, Bitcoin initially fell, then fluctuated, and ultimately rose. By Monday, its trading price was above the level prior to the attack, leaving almost no lasting signs of panic or safe-haven seeking.

This trend reflects deeper issues. After falling about 50% from its historical peak, Bitcoin has been consolidating in a narrow range of approximately $60,000 to $70,000. Since the collapse of the crypto market last October, most leverage has been forced out. Retail participation has decreased, and capital inflows have weakened. In the context of overall lighter positions, the subsequent impact of new shocks has also been smaller.