The rally marked a recovery following a volatile weekend. Many strategists believe the market is beginning to show signs of renewed resilience after five consecutive months of severe decline for the world’s largest digital asset.
David Morrison, Senior Market Analyst at Trade Nation, n
oted that Bitcoin’s relative stability has reinforced the “digital gold” narrative. The asset appears to be behaving more like a store of value amid geopolitical tensions, rather than moving in line with high-beta technology stocks.
Earlier, Bitcoin had fallen to around $63,255 on Saturday morning, immediately after U.S. and Israeli attacks on Iran. Later that day, the price rebounded above $68,000 amid circulating reports that Iran’s Supreme Leader Ayatollah Ali Khamenei had been killed.
Ether (ETH) also traded back above the $2,000 mark on Monday, after plunging roughly 10% immediately following the airstrikes.
Sean Farrell, Head of Digital Assets at Fundstrat, said crypto’s ability to hold up amid escalating geopolitical tensions is an encouraging signal, potentially opening room for short-term upside as defensive positioning unwinds.
However, he cautioned that geopolitical-driven sell-offs often create buying opportunities—unless they trigger prolonged economic consequences, particularly through the energy markets.
On Monday, crude oil futures surged, with Brent crude rising more than 8% and West Texas Intermediate (WTI) gaining about 7%.
Farrell emphasized that crude oil remains the key risk variable; any escalation that significantly disrupts shipping routes or energy flows could undermine the currently improving short-term outlook.
Year-to-date, Bitcoin remains down roughly 20% after logging its fifth consecutive monthly decline in February. The asset has struggled to regain a stable trend after plunging from its all-time high of $126,000 set in October.
Wall Street has revised down its year-end price forecasts, with even the most optimistic analysts suggesting Bitcoin could fall toward the $50,000 region before recovering in the second half of the year.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency markets are highly volatile and involve significant risk. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
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