Bitcoin doesn’t budge on Israel-Iran war, for now: NoOnes CEO

2025/06/19 20:25

Geopolitical tensions are escalating, but Bitcoin hasn’t seen major price action. NoOnes CEO Ray Youssef explains why.

Rising tensions in the Middle East are exposing a flaw in how some traders view Bitcoin (BTC). Instead of acting as a hedge, Bitcoin is behaving more like a tech stock, says Ray Youssef, CEO of NoOnes, a crypto peer-to-peer payments and trading platform.

Yossef also highlighted the $100 million breach of Nobitex, Iran’s biggest crypto exchange. The hack, likely performed by Predatory Sparrow, a hacking group with ties to Israel, would have sounded alarm bells earlier.

Escalating tensions are usually positive for hedge assets. However, Bitcoin’s reaction was muted, continuing to trade around $105,000. At the same time, Ethereum (ETH) also traded between $2,120 and $2,330, now for the seventh week in a row. This is despite significant whale inflows, amounting to 871,000 ETH over one week.

Bitcoin fails as a hedge asset for now: Yossef

Bitcoin’s lack of movement, according to Youssef, suggests that its hedge-asset narrative is losing traction in today’s market.

Still, Youssef notes that geopolitical risk is driving a shift within the broader crypto landscape. Bitcoin dominance is approaching 66%, as traders retreat from riskier altcoins. If global tensions continue to mount, this rotation into BTC could accelerate, especially if capital controls, sanctions, and infrastructure disruptions enter the mix.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.