Bitcoin price is once again at the center of global macro narratives, as escalating tensions between Israel and Iran spark volatility in the crypto markets. Over the weekend, BTC briefly dipped below $105K, triggering fears of a broader selloff. Yet behind the scenes, long-term holders may be seizing the moment.
Geopolitical Escalation Shakes Markets
BTC’s pullback coincided with headlines of rising military tension in the Middle East, triggering a risk-off response from investors. Gold and oil spiked, while equities and crypto experienced a momentary shakeout.
However, history may be on Bitcoin’s side. Research by André Dragosch, Head of Research at Bitwise’s ETC Group, shows that Bitcoin has historically rebounded from geopolitical shocks, often outperforming over the following weeks. His 2024 study analyzed major global risk events and found that BTC typically drops on impact — but then rallies, recovering in roughly 50 days and often surpassing pre-event highs.
This reinforces the idea that BTC is developing a stronger role as a resilient macro asset, capable of enduring — and even thriving — through global crises.
$3.3 Billion Inflow into Accumulation Wallets
Meanwhile, on-chain data from CryptoQuant shows a contrasting story beneath the surface. Over $3.3 billion worth of BTC has flowed into accumulation wallets — addresses that steadily build positions over time. This cohort now holds 2.91 million BTC with an average entry price near $64,000.
The chart shared in the CryptoQuant tweet reinforces a bullish long-term sentiment. These wallets historically signal strong hands that tend to accumulate during dips rather than panic sell.
Bitcoin Price Levels to Watch
At the time of writing, Bitcoin trades around $107,000, recovering slightly from the weekend dip. The key support remains in the $104K–$105K range, while resistance stands at $110K and $112K.
Source: Tradingview
If accumulation trends continue, BTC may reclaim higher levels — provided macro conditions stabilize. Investors are closely watching both geopolitical developments and the broader economic landscape, including U.S. interest rate decisions later this month.
Final Thoughts: Bitcoin, Gold, and the Safe Haven Debate
While traditional safe havens like gold surged during the recent spike in Middle East tensions, Bitcoin’s mixed response has reignited the debate: is BTC really digital gold?For now, institutions and long-term whales seem to think so. Whether or not short-term volatility persists, the recent $3.3B inflow into Bitcoin suggests strong conviction remains — especially as BTC continues to trade well above its realized price floor.
