Bitcoin Price Tumbles as Gold Rises. Why Crypto Is No Haven. — Barrons.com

By Elsa OhlenBitcoin fell early Friday as it reacted to heightened global tensions in the Middle East and dropped alongside other risk assets.The world's largest crypto fell 2.7% over the last 24 hours to $104,763, according to CoinDesk. It dropped to as low as $ 103,274 overnight, or down about 4% on a 24 hour basis, but has recouped some of those losses since.Israel launched a wide-ranging strike on Iran overnight, targeting the country's nuclear program and military leadership. Oil prices jumped and markets fell. Futures tracking the S&P 500 were down 1.4% early Friday morning.Ether and XRP were down 7.6% and 5.2%, respectively. Solana plummeted nearly 9%.Bitcoin has held up relatively well amid the tariff drama over the last couple of months, with some hailing it as "digital gold," or a safe haven in uncertain times. Friday's price move will likely dent those ideas.Gold — the ultimate safe haven asset — rose 1.1% early Friday.Write to Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.