Investors are shunning bitcoin and other digital currencies in favor of traditional safe-haven assets like gold.
The price of major cryptocurrencies is slumping as the conflict between escalates. Bitcoin fell to $36,370 on Tuesday after being as high as $44,125 a week ago, while other popular digital coins, including Ether, Ripple and Solana, have also tumbled recently. Analysts said the declines show that cryptocurrencies are a poor choice for investors seeking stability in periods of market turmoil, in contrast to traditional hedges against risk like gold and U.S. Treasury securities. „Bitcoin’s safe haven narrative has almost completely fallen apart as the rising possibility of military conflict and the worsening U.
