Bitcoin climbed to $74,157 Monday as the U.S.-Iran conflict entered its third week, driving investors toward decentralized assets amid rising global uncertainty.
The cryptocurrency traded at $73,978-up 3.1% on the day and 9.1% weekly-even as crude oil rose to $99.25 a barrel and traditional safe-haven gold fell nearly 7% since the conflict began February 28.
Analysts say the rally isn’t war-driven but stems from macroeconomic fallout: high oil prices, weak growth, and expanding U.S. deficits are straining fiscal liquidity, boosting Bitcoin’s appeal.
"Short-term emotional sellers have exited," said Tim Sun of HashKey Group. Long-term holders now dominate, with Bitcoin Days Destroyed hitting a three-year low-indicating minimal movement of dormant coins.
Steady ETF inflows over three weeks and options data further support momentum. Glassnode noted a concentration of call options near $75,000, where market makers may be forced to buy Bitcoin if prices breach that level-potentially accelerating gains.
Still, experts caution the rally’s structure isn’t entirely healthy. Upcoming Fed decisions, especially the March FOMC meeting, will be critical for sustaining momentum.