Oil Price Surge Following Iran-Israel Conflict: Will Bitcoin Be Dragged Down or Become a New Safe Haven for Investors?

Jakarta — Rising crude oil prices have become a significant risk threatening inflation and global economic stability, driven by escalating conflict between Iran, Israel, and the United States.

Oil prices in Asian markets at London Brent’s opening on Monday, 2 March 2026, rose to $80 per barrel, up from Friday’s 27 February close of $72.87 per barrel, representing a 13 per cent increase. Since Israel’s US-backed military action against Iran on Saturday, 28 February 2026, oil prices have continued to climb steadily, having opened the previous week at $71.24 per barrel for Brent crude.

Amid these developments, a critical question has emerged: will cryptocurrency assets be swept up in panic-selling waves, or will they instead become an alternative safe haven for investors?

Tokocrypto CEO Calvin Kizana believes that surging oil prices have the potential to trigger inflation and worsen global risk sentiment. In the short term, these conditions could simultaneously pressure both stock and cryptocurrency markets.

“Rising oil prices have the potential to trigger inflation and worsen global risk sentiment, which in the short term could pressure both stocks and cryptocurrencies simultaneously. With a high correlation to equity markets, Bitcoin is likely to be caught up in the initial phase of panic,” Kizana told Kompas.com on Monday.

Data shows that over the past seven days, Bitcoin’s correlation to the US S&P 500 index has been around 78 per cent. This means that as long as global investors treat Bitcoin as a risky asset, stock market pressures have the potential to spill over into the cryptocurrency sector.

“If inflation rises and confidence in the traditional financial system is shaken, some investors may begin to view Bitcoin as a hedge against policy uncertainty and currency risks,” he added.