Bitcoin surges above $70,000 as geopolitical market volatility begins to ease.

Bitcoin rebounded from roughly $65,000 after a sharp weekend selloff, climbing back above $70,000 on Tuesday morning in East Asia trading as oil prices cooled and institutional inflows helped steady the market.

The recovery followed a brief wave of risk aversion that swept global markets. Bitcoin had fallen toward $65,000 over the weekend before staging a quick rebound as traders reassessed the impact of geopolitical tensions.

The cryptocurrency’s rebound coincided with a pullback in crude oil prices and a rally in U.S. equities. Earlier Monday, markets had shifted into risk-off mode after disruptions in the Strait of Hormuz pushed major oil benchmarks — West Texas Intermediate and Brent Crude — above $100 per barrel for the first time in years. Bitcoin initially dropped alongside other risk assets but soon stabilized in the mid-$60,000 range as investors digested the headlines and concerns around the energy shock eased.

According to market maker Enflux, the digital asset showed notable resilience despite the magnitude of the oil market disruption.

“Bitcoin briefly slipped below $66,000 during the initial risk-off wave but quickly stabilized in the $66,000 to $68,000 range,” the firm said in a note to CoinDesk. “Relative to equities and even some traditional hedges, its performance held up comparatively well.”

Institutional demand has also continued to support the market. U.S. spot bitcoin exchange-traded funds recorded roughly $568 million in net inflows last week, following $787 million the week before, according to data from SoSoValue. That pushed cumulative net inflows across the products to more than $55 billion.

Preliminary data from SoSoValue also showed about $57 million in inflows on Monday, though not all issuers had reported at the time of publication.

Meanwhile, on-chain and derivatives data indicate that market conditions are beginning to stabilize following the recent volatility, though investor conviction remains tentative.

“Overall, conditions are stabilizing, with momentum, ETF demand, and profitability metrics showing modest improvement,” analysts at Glassnode said in a recent report. “However, capital flows remain relatively soft, speculative activity is still limited, and broader conviction has yet to fully return.”

Sentiment on prediction markets has also turned more optimistic as bitcoin regained the $70,000 level. On Polymarket, the probability of BTC reaching $75,000 in March climbed to about 56% on Monday, up from roughly 34% the day before, underscoring how quickly trader expectations shifted following the rebound.