Analysis: The Bitcoin "Safe Haven Myth" Fails Amid US-Iran Conflict, ETF Capital Reshapes Pricing Logic

SmartContractAuditor · 2026-04-01T04:07:04+00:00

10x Research points out that under the current US-Iran conflict, Bitcoin has failed to demonstrate its safe-haven asset characteristics and has instead declined in tandem with other risk assets. New investors focus on macro variables, while some retail investors still rely on outdated narratives. The market generally misreads Bitcoin and overlooks key macro factors.

SmartContractAuditor

2026-04-01 04:07:04

Abstract generation in progress

Odaily Planet Daily, reported that 10x Research said in a post on the X platform that, amid the current Israel-Iran conflict, Bitcoin has not shown “inflation-hedging” or “safe-haven asset” characteristics. Instead, it has fallen in sync with other risk assets, indicating that its price-driven logic is changing. The launch of Bitcoin ETFs has brought a new group of investors to the market; most of them come from Wall Street and focus more on macro variables than on on-chain applications or network growth metrics, but not all “macro” indicators are applicable to Bitcoin. Some retail investors still rely on narratives based on a “four-year cycle” or extended to a “five-year cycle,” leading them to continue going long during the downturn. The market broadly misreads Bitcoin at present—treating it as a safe-haven asset, over-relying on a failed liquidity model—while ignoring the key macro factors that truly drive the cycle.

BTC0.7%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes