Bitcoin climbed higher this week, supported by significant inflows into spot Bitcoin ETFs even as geopolitical tensions tied to Iran kept global markets on edge. The renewed wave of institutional demand has helped steady the leading cryptocurrency despite sharp price swings triggered by global uncertainty.
Bitcoin ETFs Record Quarter’s Strongest Inflows
Bitcoin regained momentum after spot Bitcoin ETFs recorded one of their strongest inflow days this quarter. Data from SoSoValue shows that as of March 2, Bitcoin ETFs recorded $458 million in net inflows, underscoring renewed institutional confidence in the asset.
Interestingly, this strong wave of accumulation comes amid the ongoing conflict between the United States and Iran, a development that has unsettled broader financial markets. Despite the geopolitical uncertainty, investors appear to be treating Bitcoin’s volatility as contained rather than systemic.
A significant portion of the capital flowed into BlackRock’s IBIT, which recorded the largest share of the inflows at $263 million. The dominance of IBIT highlights the continued institutional preference for established ETF products as vehicles for Bitcoin exposure.
Meanwhile, amid the surge in ETF demand, Bitcoin rallied significantly, climbing to nearly $70,000 before retracing slightly. Despite the slight retracement, it remains up 2.8% over the past day and currently trades at $68,200, reflecting growing confidence as institutional participation intensifies.
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US–Iran Conflict Escalates as Markets React
Meanwhile, the ongoing conflict between the US and Iran has continued to escalate, deepening global uncertainty. The crisis has led to the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, further intensifying tensions across the region.
In a recent speech, US President Donald Trump affirmed that the United States would continue carrying out missile strikes against Iran until its objectives are achieved. Iran, on the other hand, has launched retaliatory strikes against the US and its ally Israel, widening the scope of the confrontation.
The rapidly evolving situation has injected volatility into global markets, with investors weighing the potential economic and geopolitical fallout. Interestingly, Arthur Hayes, founder of Maelstrom Fund, claims that the recent conflict could spark a rally in the crypto market. According to Hayes, the continued civil unrest could prompt the US Fed to print more money, leading to increased liquidity injections into the markets.
Institutional Dip Buying Grows as Gold Retreats
As institutional investors seized the opportunity to absorb the dip that briefly pushed Bitcoin down to $63,000, corporate accumulation also intensified. Bitcoin Treasury Strategy increased its holdings by purchasing 3,015 BTC worth approximately $204.1 million, even while sitting on an unrealized loss of $7.32 billion. The move underscores a long-term conviction strategy despite short-term volatility.
Interestingly, as funds continue to pile into the crypto market, traditional safe-haven assets appear to be losing some momentum. Precious metals are feeling the heat of the conflict, with gold dipping to $5,310 per ounce, slipping from its early 2026 peaks above $5,500.
The divergence between rising Bitcoin demand and softening gold prices signals a potential shift in investor behavior, as capital rotates toward digital assets amid geopolitical turmoil.
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Temitope Olajide
Evans Kelvin
