The recent tensions between Iran and the global community have had a significant impact on the financial markets. While traditional safe-haven assets such as gold have fallen in value, Bitcoin has emerged as an unexpected winner, rising 8% in two weeks.
According to analysts, the increase in oil prices following the conflict is driving inflation pressures, which are dampening expectations for interest rate cuts. This shift in market sentiment is causing investors to seek alternative safe-haven assets, such as U.S. Treasury yields.
The cryptocurrency market has seen increased trading activity, with some analysts suggesting that whales are accumulating bitcoin. On-chain data shows that wallets holding between 10 and 10,000 bitcoin are increasing their purchases, which could be a bullish signal for the market.