Bitcoin has held steady at around $65,000 despite the escalating conflict in the Middle East following the US-Israeli attack on Iran that has shaken global markets, sent oil prices soaring, sent Asian stocks plummeting and made investors increasingly cautious.
At the time of writing, Bitcoin is currently at $68,179, down 0.11% since it opened early Wednesday in Asian trading.
Typically, risky assets like crypto fall sharply during geopolitical crises. But this time, the selling pressure appears to be under control.
Data from CryptoQuant shows that short-term holders, who are often quick to panic, did not send large amounts of Bitcoin to exchanges when the price fell to around $63,000 on February 28.
This is in contrast to early February when 89,000 BTC were sold at a loss in one day.
Analysts see this as a sign that the selling pressure is easing. Once the most nervous investors have left, the market usually begins to stabilize and has the potential to recover.
History also shows a similar pattern as when Russia invaded Ukraine in 2022, Bitcoin fell before surging 40%.
In 2025, after Israel invaded Iran, the price also fell before rising by around 25%.
Now, the decline of around 3 to 4 percent seems more manageable than many expected.
More interestingly, the Bitcoin spot ETF in the United States recorded an inflow of $458 million in a day, bringing the total to over $55 billion.
BlackRock led the way with the largest inflow through its iShares Bitcoin Trust.
Industry figures such as Samson Mow and Jan van Eck see this resilience as a positive sign, while JPMorgan sees the current tensions as an opportunity to add to holdings.
Despite the ongoing war, Bitcoin has so far not shown a significant collapse. Whether history will repeat itself with a new surge after the crisis, the market has chosen to wait and see.
