By Omkar Godbole (All times ET unless indicated otherwise)

Since Friday, cryptocurrencies, especially bitcoin

, have demonstrated resilience in the face of the Iran-Israel hostilities. But they also haven’t rallied on what might be considered positive news.

The two largest tokens, bitcoin and ether

, have traded in a narrow range in the past 24 hours. Even the best-performing of the top 100 tokens, bitcoin cash , added just 4%.

Behind the scenes, though, institutions are continuing to embrace crypto. On Monday, investment banking giant JPMorgan filed an application for a crypto-focused platform, JPMD, to offer trading, exchange, transfer and payment services and issuance of digital assets.

Strategy, for its part, said it bought over 10,100…