Bloomberg: U.S.-Iran Conflict Has Limited Impact on Bitcoin, Currently Consolidating in the $60,000 to $70,000 Range

BlockBeats News, March 3rd. According to Bloomberg, Bitcoin has long been touted as providing something other markets cannot: a 24-hour real-time gauge of global risk appetite. However, after the news of the U.S. strike on Iran emerged, Bitcoin initially fell, then fluctuated, and ultimately rose. By Monday, its trading price had exceeded pre-strike levels, showing little to no sustained panic or flight-to-safety signs.

This trend reflects a deeper issue. After retracing about 50% from its all-time high, Bitcoin has been consolidating within a narrow range of $60,000 to $70,000. Since the crypto market crash last October, most leverage has been flushed out. Retail participation has decreased, and fund inflows have weakened. Against the backdrop of lighter overall positions, the follow-on impact of new shocks is also relatively small.