Bitcoin Rises Alongside Gold as Oil Tops $100 Following Iran Strikes

Bitcoin climbed as high as $79,742, up 1.6% since midnight UTC, after US Central Command reported destroying several Iranian oil tankers and Tehran responded with missile strikes on American bases in Jordan.

The move came as Brent crude topped $100 a barrel for the first time since July, while European and US equity markets fell sharply in response to the escalation.

Bitcoin Tracks Metals Rather Than Stocks

Notably, bitcoin’s rally aligned more closely with gold and silver, both of which posted gains of over 1%, than with equities, which moved lower. Ether and XRP also posted modest gains. Analysts noted the pattern marked a reversal from earlier in the month, when similar US military action had sent bitcoin lower in tandem with stock markets rather than acting as a haven asset.

ETF Flows Show Mixed Signals

Despite the price gains, US spot bitcoin ETFs recorded a net outflow of nearly $47 million on Tuesday, following inflows of more than $170 million just days earlier, suggesting institutional positioning remains mixed even as bitcoin’s price responds to escalating geopolitical risk.