Bitcoin's weekly gain tops 6% as Iran-Israel tensions escalate
Bitcoin rose about 1.4% to roughly $71,100 on Friday, capping a nearly 6% weekly gain and a 7% rally since tensions involving the US Israel, and Iran escalated.
It's been performing better than both gold and the S&P 500 during this stretch.
Bitcoin reacts to global tensions
Unlike traditional markets that close on weekends, Bitcoin trades 24/7, so it reacts fast when things get tense globally.
Hopes for crypto-friendly US regulations and movements in oil prices have influenced sentiment.
Other cryptos also on the rise
Ether, XRP, and Solana all saw solid gains too, bouncing back after recent lows.
The overall crypto market got an extra lift after President Trump called the war very complete, helping prices climb even more.
Analysts eye key levels for Bitcoin
Analysts are eyeing $72,000 to $73,000 as key levels to watch.
With its recent surge, people are talking about whether Bitcoin could be a safe-haven asset when world events get shaky.