James Butterfill, head of research at CoinShares, has highlighted the influence of geopolitical factors on Bitcoin's recent performance. According to NS3.AI, Bitcoin has increased by 6% since the onset of the Middle East conflict, despite a decrease in U.S. rate cut expectations to 23%. Butterfill emphasized the significance of this trend, noting that Bitcoin's rise has occurred alongside three consecutive weeks of net inflows into crypto-related products, indicating that institutions are maintaining their Bitcoin holdings amid the ongoing turmoil.