Bitcoin Holds Steady Around $78,000, Rising in Tandem with Gold Despite Middle East Risks

Bitcoin traded sideways around the $78,000 level as investors weighed Middle East geopolitical risks and awaited details on the U.S. Treasury Department's bond buyback program. Despite escalating military clashes between the U.S. and Iran that sent oil prices surging, Bitcoin displayed an unusual pattern of tracking safe-haven assets like gold and silver rather than risk assets.

According to global crypto data platform CoinMarketCap, Bitcoin was trading around $78,000 (approximately 106 million won), down 0.65% over the past 24 hours as of 10 a.m. on the 10th. On a weekly basis, it was up 1.59%. In the Korean won market, Bitcoin traded around 106 million won, with the Korea premium at 1.35% according to Cryprice.

At the same time, Ethereum was down 1.08% from the previous day at around $2,468 (approximately 3.3 million won), while Ripple fell 2.29% to around $1.38 (approximately 1,800 won).

Middle East Conflict Escalates, Oil Tops $100

The U.S. Central Command (CENTCOM) announced on the 8th (local time) that it had destroyed five Iranian oil tankers in response to an attack by Iran's Islamic Revolutionary Guard Corps (IRGC) on U.S. naval vessels. Iran retaliated with missile strikes on U.S. military bases in Jordan, further escalating tensions in the Middle East.