The recent US-Iran conflict has highlighted the contrasting behaviors of Bitcoin (BTC) and gold as safe haven assets. Following the US and Israeli strikes on Iran on February 28, the crypto market saw a drastic decline, with over $128 billion in market capitalization erased. Bitcoin's price fell from approximately $66,000 to $63,000, while gold rose, reinforcing its traditional role as a crisis hedge. Interestingly, retail traders initially shifted their focus to oil, which experienced a remarkable 328% increase in unique traders and a 1,042% rise in trading volumes compared to pre-conflict levels. Although Bitcoin later rebounded by nearly 20%, its participation in the market dropped 9% below pre-conflict levels, indicating a shift in trader sentiment. Analysts suggest that Bitcoin's increasing institutional participation has made it more sensitive to geopolitical tensions, resulting in conflicting market forces that challenge its status as a safe haven. Despite these fluctuations, Bitcoin outperformed equities during the conflict period, supported by discussions of its role as an alternative financial system.