What the Iran Conflict Means for Bitcoin's Price

In brief

• Bitcoin has steadied after an initial weekend selloff tied to Middle East tensions, holding up better than U.S. equity-index futures.
• Funding rates in Bitcoin futures have turned sharply negative, signaling crowded short positioning in derivatives markets.
• Oil and gold have rallied on fears of supply disruption and inflation risk, underscoring a broader risk-off tone across global markets.