Bloomberg analysts: Bitcoin has risen 12% since the Middle East conflict, reigniting discussion about its safe-haven asset status.

According to ME News, on March 5th (UTC+8), Eric Balchunas, Senior ETF Analyst at Bloomberg, wrote on the X platform that Bitcoin ETFs attracted another $500 million in inflows, with 10 out of 11 US Bitcoin ETFs being particularly popular with investors. Furthermore, since the escalation of the Middle East conflict, Bitcoin has risen by approximately 12%, while gold has declined during the same period, sparking discussions about the safe-haven attributes of both. Balchunas added that the strength of Bitcoin and the decline of gold amidst rising geopolitical uncertainty is relatively rare, leading some investors to reconsider the roles of traditional "safe-haven assets" and "digital gold." Does this mean that gold has failed to play its safe-haven role in the current environment, or conversely, that Bitcoin is gradually assuming some of the functions of a safe-haven asset? However, long-term market disagreements remain, with some analysts arguing that gold remains the primary safe-haven asset during traditional crises, while Bitcoin's market performance is often more volatile. (Source: ME)