Bitcoin Holds Steady as Iran Strikes Shake Gold, Oil and Global Markets

Bitcoin remained resilient near $63,800 on Monday despite heightened geopolitical tensions after the United States launched its fourth round of strikes on Iran within a week. While traditional financial markets reacted sharply to the escalating conflict, the world's largest cryptocurrency traded largely unchanged, highlighting its growing independence from short-term geopolitical shocks.

Bitcoin slipped just 0.3% over the past 24 hours but remained up about 2% for the week. Ether also showed limited movement, hovering around $1,800 with a weekly gain of roughly 2%. Among major cryptocurrencies, Solana was the weakest performer, falling about 5% over the past seven days to around $76, while XRP held near $1.09 and Dogecoin traded close to $0.07.

The broader market experienced a significant selloff as investors responded to the latest developments in the Middle East. Spot gold dropped as much as 1.6% to around $4,050 per ounce, while Brent crude surged more than 4% above $79 per barrel amid uncertainty over the status of the Strait of Hormuz, a key shipping route that carries roughly one-fifth of global seaborne oil supplies.

U.S. Central Command said the strikes targeted Iran following an attack on a container ship. However, conflicting statements over whether the Strait of Hormuz would remain open continued to fuel concerns about potential disruptions to global energy supplies.

The market reaction reflected growing expectations that persistently higher oil prices could keep inflation elevated, prompting the Federal Reserve to maintain higher interest rates for longer. U.S. Treasury prices declined, pushing the two-year yield to its highest level since February 2025, while MSCI's Asia Pacific equity index fell 1.6%.

Despite these pressures, Bitcoin showed little correlation with traditional safe-haven assets or risk markets. The cryptocurrency also shrugged off volatility in South Korea, where SK Hynix shares plunged 12% after a strong U.S. market debut last week contributed to a sharp reversal in semiconductor stocks and a 7% decline in the KOSPI.

Bitcoin's ability to remain range-bound through military escalation, rising oil prices and hawkish Federal Reserve expectations suggests the digital asset is increasingly being driven by broader liquidity conditions and technology-sector trends rather than geopolitical headlines alone.