Bitcoin’s dual 2026 role: risk selloff then haven-like rebound
Bitcoin first fell with risk assets after the start of the war with Iran, then outperformed gold and stock indexes within two weeks.
BTCUSD
Bitcoin’s 2026 response to the war with Iran began with a sharp drop in line with other risk assets. That initial move challenged the idea that the cryptocurrency was acting as a haven.
Within two weeks, however, bitcoin had outperformed gold and major stock indexes. The reversal leaves it exhibiting both risk-on and defensive characteristics depending on the timeframe.
The report argues that bitcoin’s portfolio role cannot be fixed as simply risky or protective. Instead, the conclusion depends on which part of the chart is examined — the immediate shock or the recovery that followed.
Source: ForkLog