Bitcoin’s price retreated from a recent peak of $74,157 on Monday, settling around $73,978, despite ongoing geopolitical instability stemming from the third week of the U.S.-Iran conflict. The cryptocurrency had surged in value over the weekend, gaining 9.1% for the week as of Monday morning, according to data from CoinGecko.
The pullback comes as crude oil prices continue to climb, reaching $99.25 per barrel – a nearly 28% increase from March 9, though still below last week’s high of $119.48. U.S. President Donald Trump has publicly called on nations reliant on oil transported through the Strait of Hormuz to ensure its security, stating the U.S. Would provide “A LOT!” of assistance, following a post on TruthSocial addressing the issue. His comments followed a warning that failure by allies to secure the Strait of Hormuz would be “very disappointing for the future of NATO,” as reported by the Financial Times.
While traditional safe-haven assets like gold have experienced a roughly 7% decline since the conflict began on February 28, Bitcoin has gained 11% over the same period. This divergence has prompted analysis of Bitcoin’s evolving role in the financial landscape.
Tim Sun, a senior researcher at crypto operator HashKey Group, suggested the cryptocurrency’s gains are linked to macroeconomic consequences of the conflict, rather than the war itself. “The combination of high oil prices, weak growth and deficit expansion means that future U.S. Fiscal pressure will only increase, eventually funneling back into liquidity issues,” Sun told Decrypt.
The conflict has also highlighted increased cryptocurrency adoption in Iran, driven by international sanctions. Chainalysis reported a 694% surge in state-driven sanctions evasion volume in 2025, with Iranian centralized exchanges seeing a corresponding increase in activity. This trend suggests a growing reliance on cryptocurrency as a means of circumventing financial restrictions.
Analysts, such as Max Gokhman, are increasingly viewing Bitcoin as a viable alternative asset during periods of geopolitical tension. Recent commentary on CNBC indicated that major digital currencies are rebounding even as military operations in Iran raise market volatility. However, the long-term impact of the conflict on Bitcoin’s price remains uncertain.
