The conflict between Israel and Iran rapidly escalated this week. Against the backdrop of general volatility in risk assets, Bitcoin was affected but quickly rebounded, rising to $106,000 in the afternoon and currently trading at $105,398.
The US spot Bitcoin ETF has also recorded net inflows for five consecutive trading days, with a cumulative amount of $1.3 billion. (On June 13, an additional $301 million in net inflows was recorded)
Geopolitical and Price Resilience
On the day Israel launched an airstrike on Iran, Bitcoin dropped over 3%, reaching a low of $102,800, but quickly rebounded. Nic Puckrin, founder of Coin Bureau, pointed out:
The US Dollar Index (DXY) truly drives the price, not geopolitics. Bitcoin tends to strengthen when the dollar weakens.
However, Puckrin added that if Iran closes the important energy waterway "Strait of Hormuz", safe-haven assets might simultaneously decline in the short term, but the long-term trend still depends on the dollar's movement and liquidity environment.
