Conflict in the Middle East: Bitcoin suffers while gold shines.
The recent clash between Iran and Israel has caused panic in global markets. While gold and the dollar rise as traditional safe havens, Bitcoin has fallen drastically, exposing an uncomfortable truth: is it really the new gold, or just another risky asset?
The Israeli attack on military and nuclear facilities in Iran — and Tehran's swift response — set off geopolitical alarms around the world. The offensive, dubbed "Rising Lion," prompted an immediate response in the markets... and the crypto world was no exception.
Bitcoin fell more than 4% in just a few hours, dragging Ethereum, Solana, and other altcoins down with it. More than $1.2 billion in leveraged positions were liquidated. In contrast, gold rose by 1%, the dollar gained ground, and assets considered safe havens strengthened.
What happened to the narrative of Bitcoin as a refuge amidst global uncertainty?
Figures like Peter Schiff, a long-time skeptic of the ecosystem, were quick to declare that this only confirms what they have always said: BTC is a high-risk asset disguised as a safe haven.
But the debate is far from over. Many see these drops as a buying opportunity. Others believe the narrative of "digital gold" is broken. What is undeniable is that the war has left a visible wound on Bitcoin's credibility as a hedge.
