Bitcoin (BTC-USD) rose 8% on Wednesday, with strategists pointing to the token’s resilience amid market volatility tied to the Middle East conflict.

A move to integrate digital assets into the US mainstream financial system and President Trump’s push to advance crypto-related legislation also drove up crypto stocks and token prices.

Bitcoin climbed to a one-month high above $73,000 as more than $680 million flowed into spot bitcoin exchange-traded funds (ETFs) on Monday and Tuesday. The broader markets lagged on concerns that oil price spikes tied to the Iran war could reignite inflation.

“These ETF flows suggest this isn’t just a short squeeze,” Coin Bureau co-founder Nic Puckrin said.

“They point to institutional…