Bitunix Analyst: Middle East Tensions Test Bitcoin's Safe-Haven Narrative as BTC Trades Near $66,000

Bitcoin is trading around $66,000 as Middle East tensions escalate, with Bitunix analysts noting that large-scale U.S. and Israeli military operations against Iran since March 2 and potential closures of the Strait of Hormuz or Red Sea routes could push Brent crude above $100 if disruptions persist, BlockBeats reports. The analysis shows U.S. January PPI rose 0.5% month-over-month with core annual growth at 3.4%, and that sustained oil price increases could further impact inflation expectations and the Federal Reserve's rate-cut path as capital shifts toward gold and the dollar. In crypto markets, the report identifies a dense short-covering band at $67,800–$69,500 and support near $64,000–$65,000, suggesting that a break above the upper liquidation zone during risk-off flows would support Bitcoin's "digital gold" positioning, while a retreat to $64,000 would reinforce its profile as a high-volatility risk asset.