Bitcoin can't keep up with NASDAQ amid ongoing Iran-Israel conflict
Although many crypto investors flee to bitcoin (BTC) as a safe haven, it hasn’t performed particularly well during times of war. Consider its underperformance against other tech investments during the onset of a conflict. Despite US President Donald Trump’s 53 assurances that the Russia-Ukraine war would end “on day one,” that conflict continues. Worse, a new war just started in Iran , giving us a recent example against which to analyze BTC as an ostensible safe haven asset. BTC often correlates with the NASDAQ-100 index, the largest proxy for the tech industry. However, many military headlines have driven BTC to decouple from the NASDAQ to the downside. On Monday, for example, Trump surprised the world with a sudden post to TruthSocial asking everyone in Tehran to evacuate immediately. That plea, made at 6:30pm New York time to a metro area of over 15 million people, immediately tanked NASDAQ-100 constituents in after-hours trading. The NASDAQ 100-tracking Q...