IG: Bitcoin struggles to rebound amidst the conflict in the Middle East.

Bitcoin has risen slightly, showing some resilience to the conflict in the Middle East, but the increase is not significant. IG analyst Chris Beauchamp stated in a report that although cryptocurrency has seen a slight uptick, "funds are flocking to buy USD as a safe-haven asset, rather than flowing back into Bitcoin and its counterparts." He mentioned that the most positive factor is that cryptocurrency has managed to avoid falling below the low point in February, but sustained appreciation has yet to materialize. He also pointed out that since the energy price shock caused by the conflict is unlikely to dissipate quickly, both cryptocurrency and stocks are facing long-term volatility. Data from the London Stock Exchange Group shows that Bitcoin has risen by 1.3% to $68,094, after hitting a 16-month low of $60,008 on February 6th.