Bitcoin has shown remarkable resilience in the face of geopolitical tensions, officially turning positive on the day and surging above the $66,000 mark. According to The Kobeissi Letter, this upward movement positions Bitcoin approximately $1,000 higher than its trading level when US and Israeli strikes on Iran were launched last night. This development highlights BTC's potential as a safe-haven asset during times of uncertainty, drawing traders' attention to key support and resistance levels in the current market landscape.

Bitcoin Price Analysis: Breaking Through $66,000 Amid Geopolitical Events

In a swift recovery, Bitcoin's price action has captivated the crypto trading community. As of February 28, 2026, BTC climbed above $66,000, marking a positive close for the day despite initial dips triggered by the strikes on Iran. Traders monitoring the BTC/USD pair on major exchanges noted a rebound from intraday lows around $65,000, with the cryptocurrency now eyeing resistance at $67,000. This $1,000 gain underscores Bitcoin's decoupling from traditional risk assets, as stock markets experienced volatility in response to the same events. On-chain metrics further support this bullish sentiment; for instance, Bitcoin's trading volume spiked by over 15% in the last 24 hours, indicating heightened investor interest. Key indicators like the Relative Strength Index (RSI) hovered around 55, suggesting room for further upside without entering overbought territory. For those engaged in spot trading or futures, this presents opportunities to enter long positions near the $66,000 support, with stop-losses set below $65,500 to manage risks associated with any renewed geopolitical escalations.

Trading Opportunities in BTC Pairs and Market Correlations

Diving deeper into trading strategies, Bitcoin's performance against other pairs offers additional insights. The BTC/ETH pair, for example, showed Bitcoin gaining ground with Ethereum lagging slightly, as ETH traded around $2,300 with a modest 0.5% increase. This relative strength in BTC could signal a shift in market dominance, encouraging traders to explore arbitrage opportunities between Bitcoin and altcoins. Moreover, correlations with stock markets reveal intriguing patterns; while the S&P 500 dipped 0.8% amid the Iran news, Bitcoin's positive turn suggests it's increasingly viewed as a hedge against equity volatility. Institutional flows, as tracked by on-chain data from sources like Glassnode, indicate a net inflow of over 10,000 BTC into exchange wallets in the past day, pointing to accumulation by large players. For day traders, focusing on the 4-hour chart reveals a forming ascending triangle pattern, with a potential breakout above $66,500 targeting $68,000. Volume-weighted average price (VWAP) analysis from the strike timestamp last night shows Bitcoin rebounding efficiently, with average trading volumes exceeding $20 billion across platforms. This data-driven approach emphasizes the importance of monitoring real-time feeds for entries, especially in leveraged positions where margin calls could amplify movements.

Beyond immediate price action, broader market implications tie into Bitcoin's role in global finance. The cryptocurrency's ability to rise $1,000 higher post-strikes illustrates its maturing status, potentially attracting more institutional capital. Traders should watch for macroeconomic indicators, such as upcoming US inflation data, which could influence Federal Reserve policies and, in turn, BTC liquidity. In terms of risk management, diversifying into stablecoin pairs like BTC/USDT provides stability, with current spreads remaining tight at 0.01%. Overall, this event reinforces Bitcoin trading strategies centered on volatility plays, where options traders might consider buying calls expiring in the next week to capitalize on upward momentum. As the market digests these developments, staying attuned to on-chain signals and geopolitical updates will be crucial for informed decision-making.

Strategic Insights for Crypto Traders

Looking ahead, Bitcoin's positive trajectory amid the Iran strikes offers strategic lessons for traders. With BTC now above $66,000 and showing a 1.5% daily gain as per the latest updates, sentiment indicators like the Fear and Greed Index have shifted from 'Fear' to 'Neutral,' boosting confidence. Cross-market analysis reveals opportunities in correlating with gold prices, which also rose 0.7% in the same period, reinforcing BTC's 'digital gold' narrative. For those trading multiple pairs, BTC/EUR has seen increased volume from European markets, reflecting regional safe-haven demand. On-chain metrics, including a decrease in exchange reserves by 5,000 BTC over the last 24 hours, suggest holders are moving assets to cold storage, a bullish sign for long-term price appreciation. In conclusion, this resilience not only validates Bitcoin's market position but also opens doors for tactical trades, such as scalping around the $66,000 level or hedging with inverse ETFs in stock-correlated portfolios. By integrating these insights, traders can navigate the intersection of geopolitics and crypto with greater precision.