For years, Bitcoin’s biggest selling point was that it didn’t care about the news. Stock markets gyrate on jobs data and currencies buckle under political pressure. Oil too reacts to every missile fired in the Middle East. But Bitcoin? It marched to its own drum.That story is getting harder to tell. On February 28, U.S. and Israeli forces launched strikes on Iran and crypto markets were shaken just like every other risk asset. And six days into the hostilities, digital assets have been exposed to being too entangled with global macro forces.

The week in numbers

Bitcoin (BTC) was trading just under $68,000 heading into the weekend of February 28. Then news broke of the strikes and a selloff ensued. By the time markets opened on…