Trump's Comments Boost Market Sentiment: Why is Bitcoin Bucking the Trend?

Following U.S. President Trump's latest remarks on the situation in Iran, global financial markets have shown signs of recovery, and Bitcoin's price has strengthened accordingly, rising as much as 3.4% and breaking through the $69,500 mark. Major altcoins such as Ethereum and Solana also rose in tandem, indicating an overall improvement in risk asset sentiment.

In a telephone interview with CBS News, Trump stated that military operations against Iran were progressing faster than expected. This statement comes as the conflict in Iran enters its tenth day, coupled with crude oil prices breaking through $100 per barrel, exacerbating market concerns about disruptions to the energy supply chain. The Strait of Hormuz, a critical global energy passage, has seen shipping disruptions, leading to expectations of rising inflationary pressures, further prompting investors to re-evaluate asset allocation strategies.

Joshua Lim, co-head of global markets at FalconX, pointed out that Bitcoin's rise is not only due to continued buying by digital asset investors but also benefits from the "de-hedging" effect brought about by some institutions in traditional financial markets closing short positions. Jake Ostrovskis, head of over-the-counter trading at Wintermute, believes that inflation concerns triggered by soaring oil prices are prompting the market to refocus on Bitcoin's potential value as an "inflation-resistant asset." "What's surprising isn't the macro environment itself, but Bitcoin's ability to remain strong when most people expect it to fall." Alex Kuptsikevich, senior market analyst at FxPro, observed that compared to the sharp fluctuations in traditional financial markets, the volatility of cryptocurrencies has narrowed significantly in the second half of the week. Although Bitcoin has not fully become a safe-haven asset, it has shown strong resilience in the complex environment of intertwined geopolitical risks and inflation expectations, temporarily finding a balance in the game of multiple forces.