Bitcoin surged to a recent high of $74,157 in early Asian trading on Monday, fueled by a continued weekend rally, before retreating to around $73,978, a 24-hour increase of approximately 3.1% and a week-long gain of approximately 9.1%. This surge occurred as the US-Iran conflict entered its third week, and despite escalating geopolitical tensions and global market volatility, Bitcoin maintained its strong performance. Furthermore, options market data suggests that if the price approaches the $75,000 level, market makers selling call options may be forced to buy Bitcoin to hedge, thus amplifying the upside potential. Analysts point out that Bitcoin's rise is more driven by macroeconomic factors than the war itself. High oil prices, slowing economic growth, and expectations of widening fiscal deficits could drive changes in the liquidity environment, thus benefiting crypto assets. Meanwhile, on-chain metrics show that long-term holders are continuing to hold their coins, and the Bitcoin Days Destroyed volume has fallen to a near three-year low, indicating that selling pressure has somewhat subsided. (Decrypt)