Bitcoin rebounds as conflict in Middle East intensifiesAn artistic interpretation of the symbol for Bitcoin. (Photo: 123RF)Bitcoin has rebounded to top US$70,000 despite escalating conflicts in the Middle East, diverging from most major assets including gold, as global investors move aggressively into US dollars, says digital asset fund manager Merkle Capital. Iran's disruption of a critical maritime corridor handling more than 20% of global oil supply has triggered a supply shock, pushing crude prices sharply higher. Elevated oil prices risk reigniting global inflation, complicating the Federal Reserve's effort to bring inflation back to its 2% target. "If geopolitical tensions ease and inflation stabilises, Bitcoin could regain momentum, supported by ETF inflows and improving liquidity conditions.

Source: Bangkok Post March 05, 2026 23:34 UTC