Bitcoin tops $72 000 – Moneyweb

Bitcoin rallied on Friday while oil hovered around $100 a barrel, as the conflict with Iran showed no signs of abating.

Bitcoin climbed as much as 3.3% to briefly top $72 482 despite ongoing market angst over the conflict in the Middle East, which has disrupted trade and threatened higher inflation. The original digital asset was trading around $72 198 in early New York morning, while US stock index pointed slightly lower.

“Bitcoin has shown notable resilience, rebounding above $70 000 after briefly dipping below $63 000 during the initial risk unwind on Iran war,” said Cici Lu McCalman, principal consultant and founder of Venn Link Partners. “While the recovery is encouraging, price action still looks more like stabilization than a full confidence to risk-on positioning.”

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The moves come as the latest statements from President Donald Trump and Iranian leader Mojtaba Khamenei indicate there is little sign of the conflict easing, a war that is disrupting energy flows and jolting global markets. Iran has signaled it intends to keep the Strait of Hormuz effectively closed, putting investors on high alert for the risk of further escalation.

In recent weeks, money has been returning to Bitcoin, after months of selling pushed it to roughly half the all-time high above $126,000 it reached in October. US-listed spot-Bitcoin exchange-traded funds are now on track for a third consecutive week of net inflows, the longest stretch since July. The ETFs have attracted $583 million in inflows so far this week, according to data compiled by Bloomberg.

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Damien Loh, chief investment officer at Ericsenz Capital, said upside resistance may be capped around $75,000 unless risk appetite returns — which could be driven by an end to the Iran war.

“Overall, Bitcoin continues to perform well relative to other assets,” he said.

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