Bitcoin has fallen over the past week, but its declines have been less severe than the broader equity drawdown since the Iran conflict began on February 28.

The world’s largest crypto traded around $68,000 on Sunday, down roughly 2% over the past 24 hours and about 6% over the past seven days, according to CoinGecko data. 

The move comes as the Iran war entered its fourth week, pushing crude prices higher and contributing to a broader pullback in risk assets by Friday.

That geopolitical backdrop worsened over the weekend after U.S. President Donald Trump gave Iran a 48-hour ultimatum to fully reopen the Strait of Hormuz or face U.S. strikes on Iranian power plants, prompting Tehran to threaten to completely shut the…