Key Insights:
- Bitcoin news reveals that BTC price surged above $70K during the U.S.–Iran conflict while gold declines, challenging safe-haven trends.
- Peter Schiff warns prolonged war could pressure stocks and crypto while boosting oil and gold.
- CryptoQuant data shows easing selling pressure as Bitcoin stages a short-term relief rally.
Bitcoin news drew renewed attention as Bitcoin surged above $70,000 during rising tensions between the United States and Iran. The price movement occurred while traditional safe-haven assets showed mixed behavior in global markets.
The rally unfolded amid heightened geopolitical uncertainty following Iranian airstrikes and escalating regional conflict. Despite this backdrop, gold prices declined while Bitcoin moved higher. That created an unusual divergence between the two assets.
At the same time, economist Peter Schiff renewed his criticism of the BTC price rise. His comments added a new layer to the ongoing debate about how investors respond to geopolitical shocks.
Peter Schiff Warns Markets Could Turn If War Prolongs
Peter Schiff issued his latest warning on X as markets assessed the geopolitical impact of the U.S.–Iran conflict. He argued that investors currently expect the war to remain short and manageable.
However, Schiff said that assumption may underestimate the risks of a prolonged conflict. He explained that markets could shift if the war extends beyond current expectations.
According to Schiff, a longer conflict would likely pressure stocks, bonds, cryptocurrencies, and the U.S. dollar. In contrast, he expects oil and gold prices to rise significantly under those conditions.
His remarks came as oil prices already climbed following disruptions to key energy routes. The energy market reacted quickly as traders priced in supply concerns linked to the conflict.
Bitcoin news discussions intensified as the cryptocurrency gained while gold retreated. Traditionally, investors favor gold during periods of wartime uncertainty and financial stress.
Bitcoin News Shows Diverging Views Among Market Analysts
Several market participants commented on the unusual price behavior. Some analysts urged caution when interpreting short-term movements. Billionaire hedge fund founder Ray Dalio questioned comparisons between Bitcoin and gold. He stated that Bitcoin lacks central bank backing and offers limited privacy advantages.
Dalio also warned that future developments in quantum computing could threaten the cryptocurrency’s security model. His comments appeared as Bitcoin continued to outperform gold during the conflict.
Meanwhile, Bloomberg ETF analyst Eric Balchunas also addressed the recent market movements. He said the short-term price action does not necessarily redefine Bitcoin or gold as safe-haven assets.
He said market-making activity and shifts in sentiment likely influenced the moves. Therefore, the price divergence may not represent a long-term shift in investor behavior. Still, Bitcoin news coverage highlighted the scale of the recent rally. Since the strikes began, Bitcoin has gained more than 10%, while gold has fallen nearly 2%.
On-Chain Data Points to Relief Rally in Bitcoin
On-chain indicators also reflected recent market changes. Data from CryptoQuant showed that selling pressure across spot markets declined before the rally. Demand contraction narrowed this year. It dropped from negative 136,000 BTC early in 2026 to roughly negative 25,000 BTC recently.
CryptoQuant also reported reduced selling by traders and long-term holders. Trader unrealized losses reached levels last recorded in July 2022. Historically, these conditions tend to reduce marginal selling pressure. As a result, they often support short-term price rebounds.
Long-term holder distribution also slowed considerably. The pace of selling over a 30-day period fell from 904,000 BTC in November to just over 276,000 BTC recently. That was the lowest level ever recorded since June 2025. However, CryptoQuant still identified the broader market outlook as bearish.
The firm’s Bull Score Index was low at 10 out of 100. It also showed levels of resistance in the $79,000-$90,000 range.
In addition to the Bitcoin news, Caroline Mauron, co-founder of Orbit Markets, said sentiment in the crypto sector has been more bullish lately. However, world markets remain sensitive to developments related to the ongoing conflict.
Source: https://www.thecoinrepublic.com/2026/03/07/bitcoin-news-peter-schiff-sounds-alarm-as-bitcoin-surges-past-70k-during-u-s-iran-conflict/
