Bitcoin Holds Firm Amid Middle East Conflict, Still in the $68,000–$72,000 Range
Global geopolitical tensions, particularly the conflict involving Iran and the United States, have not fully unsettled the cryptocurrency market. Bitcoin (BTC) has instead shown price resilience amid the dynamics of the energy market and global economic uncertainty.
In recent days, Bitcoin prices briefly corrected to around $66,000 to $67,000 before recovering to about $68,000 to $72,000. Assuming an exchange rate of Rp15,700 per US dollar, that price range equates to roughly Rp1.03 billion to Rp1.13 billion.
Tokocrypto analyst Fyqieh Fachrur assessed that the movement reflects robust demand fundamentals in the crypto market.
‘Bitcoin’s rapid rebound after the dip shows that investor appetite remains active, particularly in the spot market,’ he said in a press release on Thursday, 4 March 2026. ‘The correction to the $66,000–$67,000 area was used by some market participants for accumulation.’
The spike in energy prices was triggered by rising geopolitical tensions in the Middle East, fuelling concerns about global economic stability. Nevertheless, the crypto market has been relatively more stable than several other risk assets.
‘While global sentiment is being affected by geopolitical tensions and higher energy prices, Bitcoin has managed to hold price levels within a relatively stable range,’ Fyqieh noted. ‘This indicates a fairly robust market resilience.’
In addition to support from retail investors, interest in Bitcoin is also reflected in inflows into Bitcoin-based investment products such as exchange-traded funds (ETFs). Several reports note inflows of hundreds of millions of US dollars in recent days, indicating that institutional investor interest in this crypto asset remains strong.
‘Capital inflows into Bitcoin ETFs are one indicator that institutional investor interest in the asset remains high,’ Fyqieh said. ‘This helps maintain market liquidity and provides price support when short-term pressure occurs.’
At one of the world’s largest crypto exchanges, Binance, around 13,500 BTC have exited the platform since late February. In a single day, more than 3,800 BTC were withdrawn. Overall, negative net flow has persisted for seven consecutive days across major crypto exchanges.
Fyqieh regards this phenomenon as a signal that investors are taking a longer-term view of Bitcoin. ‘When net flow on exchanges turns negative, it usually indicates that investors do not plan to sell in the near term,’ he said. ‘They are moving assets to personal wallets as part of a medium- to long-term storage strategy.’