Bitcoin climbed above $74,000 for the first time in weeks as the crypto market moved higher. The total value of all coins rose to $2.51 trillion, while several altcoins posted gains. LayerZero led the rally with a gain of nearly 13%. Bonk rose 8.60%, while Zcash, Pepe, River Ethereum, and Aave advanced by more than 6%.
The move came as global markets reacted to geopolitical tension and investor sentiment. At the same time, BTC ETF inflows added support to the token and other digital assets.
Global stock markets painted a mixed picture during the rally. Chinese shares moved lower, while US stock futures pointed to a stronger open. The Hang Seng and Shanghai Composite each fell by more than 0.70%. Japan’s Nikkei 225 also slipped by over 0.40%.
In contrast, American futures turned positive. The Dow Jones, Nasdaq 100, and S&P 500 futures each gained more than 0.40%. That split in market direction came as geopolitical risks rose. Over the last three weeks, tension around Iran pushed investors to reassess where to place capital.
Oil prices also added to the pressure. Brent and West Texas Intermediate crude climbed above $95, while Iran aimed to push prices toward $200 in the coming weeks. As a result, some investors appeared to shift toward Bitcoin. The market reaction suggested that part of the demand came from those viewing it as a possible safe haven.
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Institutional demand also played a role in the market’s rise. Spot Bitcoin ETFs added more than $1.3 billion in assets this month. At the same time, the SPDR Gold Trust lost assets in each of the last two weeks. That trend pointed to a possible rotation from gold into Bitcoin.
Ethereum funds also attracted steady demand. They recorded inflows for four straight days, lifting cumulative inflows to nearly $12 billion. Solana ETFs followed a similar path. They added assets during the last three days, showing that demand extended beyond Bitcoin alone.
These flows helped reinforce the rally. Large investors did not appear to step back even as geopolitical tension remained elevated. Is the latest move a sign that Bitcoin is gaining ground as a crisis-era alternative to gold?
The latest advance also followed an earlier sell-off. Bitcoin and many altcoins fell before the war began, which suggested that traders had already priced in some of the risk. After the conflict started, buyers returned. The market appeared to respond to the idea that the worst-case scenario had already been reflected in prices.
Crypto’s nonstop trading structure also mattered. Unlike stocks, digital assets trade every hour of every day, which lets investors react at once during fast-moving events. When the first strikes on Iran took place, traditional markets were closed. Crypto markets stayed open and absorbed the first wave of selling and repositioning.
Expectations around the conflict also shifted. As some investors began to expect a more limited escalation, risk appetite and prices rebounded. Bitcoin had dropped toward $63,000 when the conflict began. Since then, it has recovered sharply, while altcoins joined the broader move higher.
Bitcoin rose above $74,000 as the crypto market gained strength, helped by ETF inflows, safe-haven demand, and fast investor reactions to Iran war developments. Ethereum and other altcoins also advanced, while mixed stock market signals added to crypto’s appeal. Investors are likely to closely monitor fund flows and geopolitical events.