Bitcoin Defies Geopolitical Risks as ETF Inflows Offset US-Iran Tensions

Bitcoin's price surged above $64,000 on Saturday as investors weighed rising geopolitical tensions against strong institutional demand. Despite escalating US-Iran conflict increasing uncertainty across global markets, steady inflows into spot Bitcoin ETFs and optimism surrounding US crypto regulation helped support sentiment.

The broader cryptocurrency market gained nearly 1% to a market capitalization of $2.19 trillion. U.S. spot Bitcoin ETFs recorded $132.3 million in net inflows on July 17, with BlackRock's iShares Bitcoin Trust (IBIT) accounting for $136.48 million in fresh investments.

However, geopolitical risks continue to pressure investor confidence as Iran suspended its commitments under the June memorandum with the US after accusing Washington of violating the agreement through renewed military strikes. The renewed conflict has heightened concerns over potential disruptions in the Strait of Hormuz, a vital route for global oil shipments.