Gold stages V-shaped recovery after US–Iran scare; Bitcoin plunges 5% and lags

Markets swung violently after an escalation in US–Iran tensions: gold plunged about 7% and recovered within hours, while Bitcoin dropped more than 5% and failed to bounce, according to BeInCrypto. Bitcoin sold off sharply early Friday Asian time, sliding from roughly $89,000 to a low of $83,400 during US daytime trading and only rose to about $84,200.

The sell-off followed President Trump’s warnings on Truth Social threatening military strikes unless Tehran agrees to a nuclear deal, the report said, with Middle Eastern governments unable to broker talks as the US moved additional firepower into the region. A looming US government shutdown also added to the risk-off mood.

BeInCrypto noted extreme volatility in gold: it fell to about $5,250 within an hour before staging a V-shaped recovery, and the Kobeissi Letter flagged a $5.5 trillion swing in gold’s market cap—the largest daily swing in history. Equities were mixed: the Nasdaq slid 0.7% (hit by Microsoft’s 10% drop), Meta jumped 10% on strong earnings, and the Dow finished slightly positive.

The outlet said the divergence highlights a wider re-pricing of trust: investors are flowing into gold vaults and away from crypto wallets. Gold has risen more than 25% this month and is nearly double its level from a year ago, while silver has surged from under $30 to over $118 an ounce since April.

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