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As tensions in the Middle East shake financial markets, gold and Bitcoin are moving in different directions, drawing investors’ attention. Gold is gaining upward pressure on safe-haven demand, while Bitcoin is showing signs of recovery after rebounding from the $60,000 support level.
According to investment media outlet FXEmpire on March 5 (local time), Bitcoin (BTC) rebounded strongly from the $60,000 support zone and stabilized above $70,000, trading around $72,500 during the Asian session. Although financial market uncertainty expanded amid escalating tensions among the United States, Israel, and Iran, Bitcoin reflected a recovery in risk appetite by bouncing off key support levels.
Market participants point to shifting expectations for global liquidity as a key factor behind the rebound. With the possibility that central banks may adopt more accommodative policies if geopolitical tensions persist, investors are reportedly returning to risk assets. Bitcoin, in particular, is highly sensitive to changes in the global financial environment and tends to face upward pressure when expectations for increased liquidity rise.
Institutional fund flows are also showing signs of recovery. Data indicates that approximately $700 million flowed into U.S. spot Bitcoin ETFs in March. Meanwhile, the Crypto Fear & Greed Index has gradually recovered from the “extreme fear” zone seen during February’s sharp market decline, signaling improving investor sentiment.
Technical indicators also suggest the possibility of further gains. Bitcoin rebounded from the key support range between $50,000 and $60,000, which coincides with the 200-week simple moving average and the support line of a falling broadening wedge pattern on the weekly chart. Additionally, the Relative Strength Index (RSI) entered extreme oversold territory for the first time since 2022, signaling a potential accumulation zone for investors.
The next key level to watch is a breakout above $75,000. If Bitcoin surpasses this resistance, some analysts suggest it could rise to $100,000 in the long term. Conversely, if the price falls below $50,000, further declines could extend corrections toward the $30,000 to $35,000 range. Meanwhile, as Middle East tensions persist, gold is seeing increased demand as a traditional safe-haven asset, and the divergence between the two assets is expected to remain a key market variable for the time being.
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