Why is Crypto Up? Bitcoin Hits $71,000 as Middle East Tensions Test Investor Resolve
Yahoo Finance·2026-03-04 10:55
Why is crypto up? When the headlines broke on Saturday about escalating conflict in the Middle East, the immediate reaction from retail investors was precisely what you would expect: fear. Bitcoin initially reacted to the uncertainty by tumbling toward $63,000, mirroring the panic seen in global equity markets. But here is the twist that caught many off guard. While gold, the traditional safety net, actually retreated from its highs, the Bitcoin price staged a massive reversal, surging over 6% to reclaim ...