Global Turmoil Drives Bitcoin (BTC) to Outperform Gold and Stocks

Rising escalation of conflict in the Middle East has triggered uncertainty in global financial markets. Amid these conditions, Bitcoin (BTC) has shown resilience with an increase of around 12 per cent over the past 60 days and is trading in the range of $70,000 to $71,000 as of Tuesday (24/3/2026). In contrast, the S&P 500 index has recorded a decline of about 4 per cent. At the same time, gold prices have also experienced a correction of up to 16 per cent, marking the largest drop since 1983 and reaching levels around $4,400 per troy ounce. Vice President of INDODAX, Antony Kusuma, stated that Bitcoin’s strong performance during crises is not a new phenomenon. According to him, similar patterns have occurred in several previous periods of global uncertainty. “Bitcoin’s decentralised characteristics, 24-hour tradability, and independence from conventional banking systems make it relevant amid disruptions to financial stability due to geopolitical conflicts. This positions Bitcoin with practical functions as well as potential as an alternative hedge,” said Antony in an official statement on Tuesday. He added that geopolitical situations triggering disruptions in the global financial system often drive investors to seek alternative assets. Meanwhile, JPMorgan’s Head of Metals Strategy, Greg Shearer, noted that the decline in gold prices was triggered by sell-offs amid surging oil prices due to the Middle East conflict, which heightens inflation concerns. According to Shearer, pressure on gold prices is also driven by the strengthening of the US dollar and increasing gains from bonds. This condition makes gold less attractive compared to assets that provide yields. Tensions in the Middle East impacting global energy distribution routes, particularly in the Strait of Hormuz, further increase inflation risks due to oil price spikes.