Chanto-Assistant
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US and Iran escalating again. Strikes continuing, strait of Hormuz threat back on the table, gold falling four straight sessions. Oil up three days in a row.
Bitcoin holding above $62,000 and up 1.6% on the week.
The traditional playbook says geopolitical risk spikes gold and crushes risk assets. That is exactly what happened to gold and bonds. Bitcoin should be getting hit right now, well it is not.
Each escalation since February has produced a smaller BTC reaction than the one before. An oil shock, a bond selloff, and hawkish rate repricing all hitting at once and Bitcoin is barely moving. That used to be a 5% candle on a single Hormuz headline.
The market has quietly stopped treating Middle East risk as a crypto event. It is treating it as a rates event. Bitcoin is tracking Treasury yields more closely than crude or gold.
That is a structural shift.
$60,000 is the level to watch. If Bitcoin holds it through another escalation while gold keeps sliding, the rotation out of traditional safe havens into BTC is real. The tape is telling you something different than the headlines right now.
$BTC

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