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With the conflict in the Middle East now in its second week and BTC trading around $70K, Block Scholes’ Risk Appetite Index indicates tentative signs of panic bottoming out.
In fact, since the US strikes on Iran began, BTC has outperformed both the S&P 500 index and gold, and even the currently preferred safe-haven: the US dollar asset gold.
READ MORE (published March 4th): US dollar vs. Bitcoin - which is the ultimate safe haven?
Options markets have (for the most part) revealed a willingness from traders to fade the geopolitical risk, with implied volatility levels still relatively low, and skew now in a normalization period following the peak panic that was priced in during the month of February.