Major cryptocurrencies climbed Monday as investors increasingly turned to digital assets during heightened geopolitical tensions in the Middle East, reinforcing a narrative that crypto may act as a hedge during periods of global uncertainty.
Bitcoin rose about 3% over the past 24 hours to roughly $73,700, while Ethereum surged more than 7% and XRP gained around 5%, according to market data reported by Barron's.
The gains came as broader financial markets faced volatility tied to rising oil prices and concerns surrounding tensions involving Iran. Some analysts say the recent movement suggests investors are beginning to treat cryptocurrencies as a potential hedge during geopolitical stress.
Bitcoin has climbed roughly 10% since late February, when tensions in the region escalated and markets began pricing in the risk of disruptions to global energy supplies, according to Barron's.
Market observers say the trend also reflects a gradual shift in how digital assets are perceived by investors. While cryptocurrencies have historically traded like risk assets alongside technology stocks, recent trading patterns suggest they may occasionally move independently during global stress events.
Data and market commentary reported by CoinDesk indicate that Bitcoin has shown resilience during recent geopolitical developments, highlighting how some investors are diversifying into decentralized assets when traditional markets show signs of strain.
Still, analysts caution that cryptocurrencies have not yet fully established themselves as safe-haven assets comparable to gold or U.S. Treasurys. Despite that debate, the latest rally underscores growing investor interest in digital assets as an alternative store of value during periods of global uncertainty.
