Bitcoin holds the $71,000 level, shrugging off gains in the dollar, oil, and U.S. bond yields.

Bitcoin Climbs Past $71,500 as Macro Headwinds Weigh on Stocks

Bitcoin traded above $71,500 on Friday, holding firm even as traditional markets faced pressure from a stronger dollar, rising Treasury yields and elevated oil prices amid the ongoing conflict with Iran.

The leading cryptocurrency has shown notable resilience despite macro conditions that typically weigh on risk assets. A stronger U.S. dollar can tighten global liquidity and often puts pressure on assets such as equities and cryptocurrencies. At the same time, oil prices remain high — with Brent crude and West Texas Intermediate hovering close to $100 per barrel — raising concerns about persistent inflation and reinforcing expectations that interest rates could stay elevated.

Higher rates generally dampen demand for speculative investments, yet bitcoin has remained stable. Since tensions in the Middle East escalated on March 1, the cryptocurrency has ranked among the stronger-performing macro assets despite the uncertain geopolitical backdrop.

Recent trading patterns have also been notable. In previous weeks during the conflict, Fridays often saw bitcoin decline by around 3%, though that trend has not repeated so far in the latest session.

Meanwhile, the U.S. Dollar Index (DXY) climbed above 100 for the first time since late November, reflecting renewed strength in the U.S. currency against a basket of major peers. Treasury yields have also moved higher, with the benchmark 10-year U.S. yield rising above 4.2%, signaling tighter financial conditions and higher borrowing costs.

Equities have struggled to gain momentum in comparison. The Invesco QQQ Trust (QQQ), an ETF tracking the Nasdaq-100, was little changed during the session.

Among crypto-related stocks, Strategy (MSTR) — the largest publicly traded holder of bitcoin — rose about 1% in pre-market trading after purchasing roughly 11,000 BTC this week using proceeds from its perpetual preferred security Stretch (STRC).

Friday also marked the ex-dividend date for STRC, which slipped slightly below its $100 par value, trading near $99.50.

Elsewhere in the crypto equity space, bitcoin miners shifting toward artificial intelligence infrastructure — including IREN (IREN) and Cipher Digital (CIFR) — opened slightly lower. Meanwhile, crypto exchange Coinbase (COIN) gained around 2%, outperforming much of the broader stock market.

About The Author

ctleditor

See author's posts