Bitcoin advances as gold and markets show resilience amid geopolitical unrest Quick Take
The recent conflict in the Middle East has surprisingly not destabilized the financial markets, as one might expect. Instead, data analysis reveals a slight increase across various financial assets. Gold, historically considered a safe haven during volatile periods, experienced a 3.31% hike. Bitcoin, the leading cryptocurrency, has also increased by 1.74% since the start of the war.
The SPX, Nasdaq, and DXY indices rose by 0.88%, 0.57%, and 0.27%, respectively, evidence of sustained market confidence. WTI Crude Oil, however, exhibited noticeable volatility, plunging from $90 to $82 per barrel before the war, regaining some ground to hover around $86. The Volatility Index (VIX) presented a similar scenario, jumping to 20 on Oct. 13 and then receding to just above 17 yesterday, Oct. 16.
The high volatility of traditional financial assets like WTI Crude Oil might indicate a potential ripple effect on Bitcoin and other cryptocurrencies.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.