Bitcoin was initially one of the hardest-hit assets at the start of the US-Iran conflict, before experiencing a marked rebound that now allows it to outperform most other cryptocurrencies.
At the outbreak of war, financial markets quickly adopted a "risk-off" reflex, with investors turning away from assets deemed risky. In this context, Bitcoin was one of the first to fall, driven by a global movement to reduce exposure to speculative assets.
Two weeks later, the trend reversed. Bitcoin is now outperforming almost all other cryptocurrencies, a sign of a gradual return of risk appetite in the markets.
Some analysts believe this recovery also reflects a particular perception of Bitcoin during periods of geopolitical uncertainty. Although it remains a volatile asset, it is sometimes considered by some investors as an alternative store of value or a diversification tool in the face of international tensions.
This development illustrates the sensitivity of the cryptocurrency market to major geopolitical events, with investors quickly adjusting their positions in response to the climate of uncertainty and global economic outlook.
