Bitcoin resilience amid Iran war lifts ASEAN adoption hopes
Bitcoin has remained relatively stable during the Iran conflict, bolstering confidence among Southeast Asian governments and institutions about accelerating cryptocurrency adoption.
Prices of digital assets have held up better than traditional markets, with Bitcoin rising more than 8% since the outbreak of hostilities while regional equities and the US dollar showed weaker comparative performance.
Industry participants say geopolitical tensions could further drive demand for stablecoins, particularly among Southeast Asian migrant workers in the Middle East seeking reliable cross-border payment options.
“The mood now is ‘extreme fear,’”
Said Zhong Yang Chan, head of research at CoinGecko, reflecting broader investor sentiment despite Bitcoin’s relative resilience.
Market participants note that earlier sharp corrections, including a more than 20% year-to-date decline in Bitcoin, have tempered volatility while forcing leveraged traders out of the market and reshaping risk appetite.
“It’s sort of sad to say, but every time a regional conflict breaks out, the demand for dollar stablecoins spikes in that region,”
Said Zhong Yang Chan, highlighting how instability is reinforcing stablecoin use cases.
Southeast Asia remains a leading region for crypto adoption, with six countries ranked among the global top 20 by Chainalysis, while growing institutional involvement, regulatory clarity, and blockchain-driven financial innovation continue to support long-term market expansion.
At the time of reporting, Bitcoin price was $66,114.43.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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