Amid the chaos that was sparked by Israel’s attack on Iran, Bitcoin has climbed again, shaking off the losses triggered by the conflict. Not only has the price seen an increase from its last week’s lows, but there has also been a notable change in the cryptocurrency’s daily trading volume. This points to continued interest despite global factors and could mean that the expectations of war are already getting priced in for the crypto market.
According to data from Coinglass, there has been a turn in the tide for the Bitcoin trading volume after starting out the new week in a slow trend. Sunday and Monday had seen the Bitcoin daily trading volume come out under $50 billion. However, as the Bitcoin price rose leading up to Tuesday, so did the trading volume.
At the time of writing, the Bitcoin daily trading volume had already crossed $88 billion for Tuesday, leading to an almost 100% increase in the trading volume during this time. This follows the trend of high volatility coming with increased volumes as the Bitcoin price swung wildly between $105,000 and $108,000.
The sharp jump in volume comes as the Bitcoin open interest remains high at near all-time highs while the rest of the market struggles. Coinglass data shows the current open interest at $71 billion, less than $10 billion away from the $80 billion all-time high recorded in May 2025.
In light of altcoins continuing to trend low while Bitcoin remains close to all-time highs, it suggests that most of the attention in the crypto market is now being focused on Bitcoin. As a result, the leading asset continues to dictate the direction of the market, with dominance remaining high above 64%.
The positive developments surrounding Bitcoin are coming as there seems to be a cooldown in the conflict in the Middle East. But with so little time having passed, expectations are that the war may only be starting, with some calling it the start of ‘World War 3.’
The Kobeissi Letter has taken to X (formerly Twitter) to address these World War 3 predictions, revealing how the markets would react if there really was a possibility of this happening. The first thing was that a 50% chance of World War 3 would’ve seen the S&P crash not 2%, but more of a 30% crash. Gold would be $5,000/oz, and oil would go for $100/barrel.
Furthermore, a 90% chance of World War 3, as explained in the post, would likely cause the S&P to crash 50%, with the prices of gold and oil surging to $10,000/oz and $200/barrel, respectively. Given Bitcoin’s correlation with the stock market so far, there is no doubt that such a crash would have carried over, triggering disastrous losses for the crypto market.
Given these, The Kobeissi Letter explains that the markets are saying the chances of World War 3 are slim. At this time, they expect a resolution to the conflict. “Futures all around the board this morning saw de-escalation coming,” the post read.
