Bitcoin Holds Steady Above $70,000 Despite Ongoing Conflict

Bitcoin's price held steady above $70,000 on Saturday, despite a 24-hour dip, as the US continued bombing Iran. The price was buoyed by net inflows into the US exchange-traded funds over the week: American investors threw over $763 million of fresh cash at the investment vehicles, according to Farside Investors data, the highest amount since January.

Over the past week, the leading cryptocurrency has shot up by 4% and is up by 12% since touching a low of $63,177 the day the US and Israel attacked Iran. Experts told DL News that the price of Bitcoin and other major coins would suffer because of the Iran war.

However, the leading cryptocurrency is experiencing a surge and less of a correlation with other risk-on assets — at least for now. US equities closed lower Friday, with the S&P 500 hitting a new low this year as the price of oil surged.