Bitcoin has surged approximately 7% since the onset of the US-Iran conflict on February 28, outperforming traditional risk assets, according to Arthur Hayes. In contrast, gold has declined by about 2%, and the Nasdaq 100 index has seen a slight decrease of 0.5% during the same period. Hayes highlighted Bitcoin's superior performance amid oil and gas price shocks, underscoring its distinct market behavior compared to traditional assets during geopolitical and energy price fluctuations.