Bitcoin (BTC) slipped below $64,000 on Saturday as news broke that Israel and the United States launched attacks on Iran. The sell-off contrasts sharply with gold, which rallied as a traditional safe haven.
Gold vs Bitcoin: Diverging Paths
Once touted as digital gold, Bitcoin has failed to act as a hedge during this geopolitical crisis. The cryptocurrency has fallen more than 50% from its October 2025 peak of $125,000. In comparison, gold prices are expected to push higher when Asian markets open, as investors rotate out of risk assets like stocks and crypto.
$60,000 Under the Microscope
Analysts warn the correction could deepen. If Iran retaliates against countries hosting U.S. military bases, risk aversion would spike. The $60,000 level is now critical — BTC has bounced from this zone before. The broader crypto market is feeling the heat: Ethereum (ETH) and Solana (SOL) also slid.
ETF Inflows Defy the Downturn
In a surprising twist, U.S.-listed spot Bitcoin ETFs posted over $1 billion in net inflows this week across three sessions. SoSoValue data shows Tuesday-Thursday inflows of $1.02 billion, led by $506 million on Wednesday. BlackRock's iShares Bitcoin Trust (IBIT) alone added $275 million on Thursday. While Fidelity's FBTC and Ark 21Shares' ARKB saw outflows, gains from Bitwise BITB and Grayscale BTC offset them, keeping the aggregate positive.
Blockchain analytics platform Lookonchain reports one-day net inflows of 5,445 BTC ($360.87M), 24,359 ETH ($47.67M), and 28,333 SOL ($2.35M). Seven-day figures show 13,053 BTC, 38,971 ETH, and 546,828 SOL added to ETFs. Institutional investors are clearly buying the dip, despite the geopolitical fog.