Bitcoin Price Tumbles as Gold Rises. Why Crypto Is No Haven.
June 13, 2025
Bitcoin fell early Friday as it reacted to heightened global tensions in the Middle East and dropped alongside other risk assets.
The world’s largest crypto fell 2.7% over the last 24 hours to $104,763, according to CoinDesk. It dropped to as low as $ 103,274 overnight, or down about 4% on a 24 hour basis, but has recouped some of those losses since.
Israel launched a wide-ranging strike on Iran overnight, targeting the country’s nuclear program and military leadership. Oil prices jumped and markets fell. Futures tracking the S&P 500 were down 1.4% early Friday morning.
Ether and XRP were down 7.6% and 5.2%, respectively. Solana plummeted nearly 9%.
Bitcoin has held up relatively well amid the tariff drama over the last couple of months, with some hailing it as “digital gold,” or a safe haven in uncertain times. Friday’s price move will likely dent those ideas.
Gold—the ultimate safe haven asset—rose 1.1% early Friday.
Write to Elsa Ohlen at elsa.ohlen@barrons.com
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