Earlier in the week, Bitcoin appeared stable relative to other assets, which saw significant selloffs as soon as markets reopened following US and Israeli strikes on Iran over the weekend. “With macro uncertainty and escalating conflict in the Middle East, markets are increasingly pricing in expectations of more accommodative financial conditions,” said Gracie Lin, chief executive officer of the crypto exchange OKX SG. “When liquidity expectations shift, Bitcoin tends to respond disproportionately — which helps explain the strength we’re seeing at these levels.”