Bitcoin outperforms gold by 35% during 2026 Iran war, challenging gold's safe-haven status.

Since the start of the 2026 Iran war, Bitcoin has risen about 7–10% while gold has remained flat or declined, leading to a 35–36% outperformance of Bitcoin over gold. This shift challenges the traditional view of gold as the primary safe haven during geopolitical crises. Analysts attribute Bitcoin's strong performance to ETF inflows, the 'digital gold' narrative, and its role as a risk-sensitive alternative store of value. The conflict has provided a real-world test of Bitcoin's potential as a macro hedge, with institutional demand supporting its price despite initial volatility.