We saw Bitcoin was under pressure during Iran Israel conflict and as soon as ceasefire is announced oil price is going down and Bitcoin is going up. Bitcoin price doesn't move in isolation but is greatly affected by global news and events. It's a positive sign for the world that we have de-escalation in the region otherwise things would have gone towards WW3. Let's hope their is cease fire in Gaza also so that people in that region can also live a peaceful life.
Now people think otherwise because when there is tension in the war between Iran and Israel, some people will try to secure assets and their choice is bitcoin. Initially the price fell until bitcoin fell to $ 98K but in a short time bitcoin managed to recover and this happened because people's trust in bitcoin in hedging forced them to move assets to bitcoin.
The oil price dropped almost 7% after the ceasefire announcement of Donald Trumps which has curved a minimum of risks in the Middle East supplies.
To balance an ease to the situation the US West Texas Intermediates also cut to 6%.
In the few week that the war put to global devastation, investors having dynamic insights tends to buy bitcoins at the immediate period following the ease to hedge against instabilities and break free from capital control.
The outcome of the war could benchmark the central bank to politicize a shift to printing more money. So investors holding their funds on fiats investing on the regulatory market might be thought risking instruments on the geopolitical crisis.
So bitcoin obviously is the only safe haven when look out to its potentials.