Bitcoin Stays Resilient Through Oil Price Shock -- Market Talk

Dow Jones03-12 22:59

1058 ET - Bitcoin prices have managed to stay relatively stable as the Iran conflict rages on, even with the surge in crude oil prices applying pressure to other higher-risk assets. Bitcoin has managed to trade fairly tightly around the $70,000-mark, after prices briefly dipped on the initial news of a strike. Maintaining this price level is unusual for bitcoin, says Nic Puckrin of Coin Bureau in a note. "In 2022, when the war in Ukraine began, bitcoin eventually plummeted as oil reached $120 (a barrel), albeit it took a while for this to happen," says Puckrin. "In 2020, during the Covid pandemic, bitcoin's price fell some 40%, along with other risk assets." In both cases, bitcoin later rallied to new all-time highs. (kirk.maltais@wsj.com)

 

(END) Dow Jones Newswires

March 12, 2026 10:59 ET (14:59 GMT)

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