Bitcoin surged to approximately $66,500, marking a significant rebound following weekend strikes on Iran. The geopolitical event triggered substantial liquidations in the crypto market and a broader sell-off in equities, while oil prices climbed.
The conflict saw safe-haven assets like gold and silver rise, with oil reaching multi-month highs. Bitcoin, however, showed notable resilience, outperforming futures for the S&P 500 and Nasdaq 100 indexes.
While many altcoins mirrored Bitcoin's movement, select decentralized finance (DeFi) tokens, including MORPHO, JUP, and AAVE, also saw gains. The market experienced over $300 million in long liquidations, primarily on Saturday, but overall market positioning suggested a degree of preparedness for volatility. Despite short-term bearish sentiment indicated by derivatives, Bitcoin's implied volatility remains within recent ranges, suggesting a lack of panic.
In contrast, U.S. equity futures declined, and crypto-related stocks faced pressure. Oil and gold retreated from their earlier surges as the situation evolved.