The price of Bitcoin fell around $4,000 after Iran fired around 200 ballistic missiles at Israel, escalating the conflict in the Middle East.
Commodities such as gold and crude oil have been rising as the specter of war looms in the Middle East. However, Bitcoin is moving in the opposite direction, leading to renewed debate on whether it’s a safe-haven asset.
Gold prices gained 1.4% on the day to reach $2,665 per ounce on Oct. 1, just shy of its all-time high, according to Goldprice.org. Meanwhile, crude oil prices spiked as much as 7% to reach $72 per barrel.
Bonds and the US dollar also climbed following Iran after a major airstrike targeting sites across Israel late on Oct. 1. Israel’s air defenses shot down most of the 180 incoming missiles, according to reports.
