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.
Most people are starting to see something different in bitcoin so now the news and global events that occur no longer panic most people. My assumption is that people are starting to see bitcoin as a safe move so most are starting to move their assets here and we hope that the tension in this war can end so that people there can live more comfortably.
Is it true that bitcoin price is increasing because people believe in bitcoin and see it as a hedge against risk? Because as far as I know, bitcoin price dropped to $98k because of the news of the US attacking Iran and bitcoin only recovered when there was news of Iran agreeing to a ceasefire with Israel.
While I don't expect war to happen, I wouldn't be surprised if conflict suddenly breaks out again, bitcoin will continue to fall instead of rise like you think.
Like the Russia-Ukraine war. For bitcoin to rise again, it needs enough time to adapt and it will take from several months to a year, it will not rise again quickly if the war does not stop.