Analysts: Bitcoin has been one of the best-performing macro assets since the outbreak of the US-Iran conflict.

On March 13, CoinDesk analyst James Van Straten wrote, "Bitcoin broke through $71,500, outperforming the US stock market. This is despite a stronger dollar, high oil prices, and the US-Iran conflict entering its third week. A stronger dollar can tighten global financial conditions, which typically puts pressure on risk assets such as stocks and cryptocurrencies. Rising oil prices have exacerbated inflation concerns and increased market expectations for interest rate hikes. Rising interest rates also reduce the attractiveness of such investments. Bitcoin continues to show resilience and has been one of the best-performing macro assets since the outbreak of the US-Iran conflict."