Bitcoin has shown resilience amid escalating Middle East tensions, with analysts suggesting the conflict is likely to be short-lived. On June 23, BTC/USD traded around $102,000, up 0.7% for the day, following a bid near the $98,000 level. Contrary to expectations, oil and gold prices fell as markets reacted positively. The Kobeissi Letter highlighted the surprising market dynamics, noting that even threats related to major oil routes did not lead to a flight to safe-haven assets like gold. Predictions favor a rapid de-escalation, with odds of US-Iran diplomatic efforts at 92%. Additionally, Bitcoin traders are cautiously optimistic, with some identifying a bullish inverse head-and-shoulders pattern. The recent CME futures gap suggests a potential rally could target $104,000, prompting traders to remain alert to market movements.

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