Global markets are experiencing significant volatility due to the ongoing Iran conflict. The crisis has caused gold prices to plummet for a ninth consecutive day, with Asian stocks entering correction territory. Despite this turmoil, Bitcoin has managed to hold above its $66,000 floor.
The prolonged war is expected to stoke inflation and push central banks towards rate hikes rather than cuts. This trend was reflected in the rise of bond yields as investors sought safer assets. However, bitcoin's price has held up relatively well compared to other major cryptocurrencies.