Over the past week, Bitcoin declined approximately 6% to around $68,000, a much more modest decline than the 4-5% drop seen in major U.S. stock indices amid geopolitical tensions and rising oil prices. Market participants attributed Bitcoin's relative resilience to prior deleveraging in the cryptocurrency market and continued institutional capital inflows. John O'Loghlen from Coinbase noted that since the Iran conflict erupted, Bitcoin has "significantly outperformed traditional assets on a risk-adjusted basis," with early signs suggesting that the cryptocurrency market may be emerging from the depths of pessimism.