Tokocrypto CEO: Crypto Begins Recovery Following Initial Iran–Israel Conflict Pressure

Jakarta – The escalation of the Iran–Israel conflict has rattled global financial markets. As investors sought safe-haven assets such as gold and US dollars, cryptocurrency markets were dragged into sharp volatility.

The question arises: will cryptocurrency assets face renewed decline, or will they establish themselves as a new safe haven amid geopolitical turbulence?

During the initial attacks by Israel and the United States on Iran, cryptocurrency market capitalisation experienced sharp corrections before subsequently reversing direction.

“The initial market reaction demonstrated that crypto has not yet fully functioned as a classic safe haven like gold. When the attacks occurred, crypto market value was temporarily eroded before ultimately recovering,” said Calvin in conversation with Kompas.com on Monday, 2 March 2026.

Bitcoin (BTC) prices strengthened approximately 3.5 per cent over the preceding 24 hours following earlier pressure.

This figure is regarded as a signal that institutional investors have begun re-absorbing supply amid global uncertainty.

According to him, Bitcoin’s current position stands “in the middle”. It has not fully become a primary hedge asset like gold, yet is no longer merely a speculative asset lacking strong underlying demand.

“Rather than experiencing permanent decline or immediately becoming a principal protective asset, Bitcoin currently occupies middle ground, remaining sensitive to volatility, but supported by strengthening underlying demand,” he explained.

Over the past seven days, Bitcoin’s correlation with the US stock index S&P 500 was recorded at approximately 78 per cent.

This indicates that crypto continues to move in tandem with risk assets.

Should global stock markets face renewed pressure due to conflict escalation, Bitcoin has the potential to weaken accordingly.