Bitcoin Holds Near $67,000 as Oil Tops $100, Tracking Resilient U.S. Equity Markets

Bitcoin has traded largely steady around $67,000 over the past week even as the Israel–Iran conflict drove oil prices above $100 per barrel, CoinDesk analysis shows. The relative stability reflects Bitcoin's close correlation with U.S. stock indices, with S&P 500 and Nasdaq futures slipping just over 3% since the conflict started on February 28, compared with a roughly 10% drop in Japan's Nikkei, a 5% decline in India's Nifty and a fall of more than 16% in South Korea's Kospi. The U.S. is a net oil exporter sourcing most of its crude from Canada and Mexico, with only 4% from Saudi Arabia, limiting its exposure to potential disruption in the Strait of Hormuz. Analysts add that the launch of spot ETFs, expectations for looser regulation after Trump's election win, and Bitcoin's earlier pullback from record highs to about $60,000 have contributed to its evolution into a quasi-U.S. risk asset and eased short-term selling pressure.