BTC was the first to "discount" geopolitical risk.
When the attacks on Iran began, the masses thought it was the beginning of BTC's capitulation, and that gold, as a safe haven asset, would perform much better. But it turned out to be the exact opposite 🤣
Personally, I see that the fact that $BTC operates 24/7 played completely in its favor this time: it was the first to take the hit and absorb the risks.
Then, when it became clear that the conflict was going to be prolonged, gold and traditional markets started to bleed, while Bitcoin consolidated as the true hedge asset.