Bitcoin price held near the $70,000 level today as geopolitical risks tied to the conflict involving Iran shifted and macro expectations weighed on broader risk markets, while derivatives data and on-chain metrics pointed to a market in consolidation rather than capitulation.

The bitcoin price hovered around $70,500 in early Friday trading, following a pullback from a recent high near $76,000. 

The move came as energy markets surged and inflation concerns returned to the forefront, limiting upside across risk assets. Despite the pressure, Bitcoin price has shown relative stability compared with commodities and equities during the same period.

Research from VanEck frames the current…

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