Behold, the mighty Bitcoin, that digital phoenix, has soared 7% since the U.S.-Iran skirmish commenced on February 28th, outpacing the sluggish gold, which slumped 2%, and the Nasdaq 100, that tech titan, which sneezed 0.5%. A marvel, nay, a miracle, to witness!
Arthur Hayes, the sagacious co-founder of BitMEX, shared this revelation on X, March 12th, as if he’d conjured it from a pocket watch and a cigar.
Bitcoin Stands Tall While Others Wilt
Hayes unveiled a chart, a masterwork of comparison, pitting Bitcoin against gold and the Nasdaq 100, all starting at the same baseline. A fair contest, though one might suspect the Nasdaq was merely yawnin’ through the whole affair.
On this chart, Bitcoin shone like a comet, gaining 7% as energy prices raged, all while the world fretted over supply disruptions. A feat worthy of a circus act!
Yet, BTC’s journey was no tranquil stroll. When the U.S. and Israel struck Iran, the asset dipped from $66,000 to $63,000-only to rebound to $67,000 after the demise of Iran’s supreme leader. A rollercoaster with a flirty dance with the abyss!
The London Crypto Club, those astute observers, nodded in agreement, citing similar antics during the Israel-Palestine feud. They claim BTC is a chameleon, adapting to both left and right extremes, while languishing in the middle with equities. A true polymath!
As of today, Bitcoin hovers near $70,000, a 24-hour range of $69k-$71k, chugging along with less than 2% gain. Yet, over seven days, it’s down 3.5%, a slight frown, though up 2% from 30 days prior. A pendulum, ever swaying.
Arab Chain, the on-chain sages, noted that the Binance BTC Scarcity Index hit 5.10, its highest since October 2025. A sign, they say, that Bitcoin’s supply is thinning, like a squirrel hoarding acorns. A bullish omen, or so they claim.
Hayes Eyes the Fed Like a Hawk
Despite this triumph, Hayes remains a skeptic, refusing to buy Bitcoin. “I’d rather trust a seagull with a compass,” he quips, warning of a prolonged war dragging equities down and Bitcoin to $60k. A man of caution, indeed.
Mike McGlone, the Bloomberg sage, offers a different vision: oil at $120, Bitcoin at $90k, copper at $6, silver at $100. A crescendo of risk assets in Q1 2026, with volatility spilling into equities. A tale of two futures, one of gold, one of chaos.
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2026-03-12 21:16