Is Bitcoin a ‘safe haven’ again? Price rises as oil breaks $100

Stock markets opened bloody red on Monday (and closed relatively neutral in Europe), and panic reigned, especially in Asia. The Kospi, the South Korean stock exchange, had to implement a so-called “circuit breaker,” a pause to give investors a breather after the index fell by more than 8%.

In China, however, the decline remained limited. This is mainly because the country has built up large crude oil reserves and diversified its energy sources, including a large supply of renewable energy.

Oil opened smoothly above $100 (and briefly climbed above $120 in some bourses), meaning the price of just about everything will be adjusted soon (unless we see an end to the Iran-US conflict and the Strait of Hormuz reopens within the next few days).

Extreme panic

The Vix index, the stock market’s panic barometer, soared. This indicates significant investor anxiety. According to yesterday’s indication, we’re poised for panic among investors if oil prices rise further.

Stock Market plunges to most amount of fear this year 🚨🚨 Extreme Fear is almost upon us 👻🫂 pic.twitter.com/BxI07EUZnO

— Barchart (@Barchart) March 9, 2026

What was striking yesterday was that the price of Bitcoin remained stable and even rose slightly during all the panic.

It had already become clear last week that investors were suddenly viewing the largest digital currency as a kind of “safe haven” again, along with gold and other precious metals.

The turnaround for Bitcoin, which we predicted last week, may indeed have begun.