Bitcoin holds near $63,800 as war-driven selloff hits everything but crypto
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Bitcoin remained relatively stable near $63,800 on July 13, 2026, even as traditional markets reacted sharply to the U.S. military’s fourth round of strikes on Iran in a week. Gold, oil, equities, and government bonds experienced significant volatility: gold prices dropped as much as 1.6% to around $4,050 an ounce, Brent crude oil surged 4% above $79 a barrel, and U.S. Treasury yields rose with the two-year hitting its highest point since early 2025. The MSCI Asia Pacific equities index fell 1.6%, reflecting broader market concerns about a potential wider conflict and its economic consequences.
The U.S. strikes were in response to an attack on a container ship, and uncertainty around the status of the Strait of Hormuz—a vital passage for roughly 20% of the world’s seaborne oil—added to market jitters. Investors feared that escalating tensions could keep oil prices elevated and compel the Federal Reserve to maintain higher interest rates for longer, which negatively impacted gold and bonds. However, bitcoin and other major cryptocurrencies showed minimal reaction. Bitcoin dipped just 0.3% over 24 hours but was up 2% on the week, with ether and other major tokens also mostly unchanged.
This muted crypto market response contrasts with past episodes when tensions in the Middle East would more directly influence bitcoin prices. Analysts note that bitcoin now moves more in line with dollar liquidity conditions and the semiconductor-driven equity cycle rather than geopolitical headlines. The chip sector’s fluctuations, exemplified by SK Hynix’s 12% plunge in Seoul after a recent rally, appeared to have more influence on cryptocurrency movements in recent days.
The divergence between crypto and traditional assets amid geopolitical turmoil suggests a maturing market where bitcoin is less a safe haven against geopolitical risk and more correlated with broader financial and tech trends. Despite these dynamics, the digital asset sector endured a tough time overall in Q2 2026, marking its third consecutive quarterly loss as institutional investors shifted capital into AI-related equities, and Bitcoin ETFs saw record outflows. The longer-term implications point to crypto’s evolving role in portfolios, now influenced more by macroeconomic fundamentals than sudden geopolitical shocks.