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Why Bitcoin Is Not Reacting to Rising Geopolitical Tensions

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by Giorgi Kostiuk

7 hours ago

Rising tensions in the Middle East raise questions about Bitcoin's role as a hedge asset. NoOnes CEO Ray Youssef shares his insights.

Impact of Geopolitical Events on Bitcoin

Some traders mistakenly perceive Bitcoin as a hedge asset. According to Ray Youssef, Bitcoin is currently behaving more like a tech stock than a safe haven amid instability.

Recent Events in the Crypto Market

Youssef also highlighted a recent hack on Iran's largest crypto exchange, Nobitex, which resulted in $100 million being stolen. This situation did not lead to significant price changes in cryptocurrencies despite the increasing tensions in the market.

The Future of Bitcoin as a Hedge Asset

Ray Youssef believes that Bitcoin is losing its status as a hedge asset in the current market conditions. He noted that Bitcoin dominance in the market is approaching 66%, as traders retreat from riskier altcoins.

The market situation indicates that under global tensions, Bitcoin is not fulfilling its traditional role as a hedge asset. This may lead to changing market preferences and increased demand for Bitcoin.

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