It's not a coincidence. Commodities do well in times of war, or times of uncertainty in the global economy, or with money. All of the above apply at the moment. We are still in the midst of these "viruses" or at least, its shadow lingers. On top of this, Russia and Ukraine, Israel and Palestine, all of this is causing uncertainty around the globe. Not just uncertainty either. It causes stimulus or printing to occur to fund solutions to these unforeseeable problems, which devalues money.
When there is this kind of sentiment it is hard to hide anywhere in normal markets.... Everything generally suffers, especially if something even more serious or impacting occurs. In the past, Gold and silver served as good ways to hedge against these events. Now Bitcoin is mature, and it will join as a commodity as a safe haven from the world's catastrophes.
I also think that way. When something happens, such as an economic crisis, war and viruses, it can cause commodities such as gold, silver, oil and Bitcoin to experience exponential price increases. However, this will happen during crises, wars and events such as the virus. When things improve, these commodities will also experience correction. Regarding this war, the UN and several countries have started to move and condemn these actions which have brought losses to both sides. If things improve, we will see that some commodity prices will experience corrections or go sideways for a while. It should be noted that the rise and fall of commodity prices, including Bitcoin, are also influenced by several other factors and are not necessarily related to the 3 points mentioned above.
I think that your post is very accurate. I've only just caught up to it now.
I think the part that is most intriguing is whether or not the recent Bitcoin price increases have been in anticipation for the halving event, the etf news, or if it has been due to safe haven inflow for war, which we'll receive outflow for after things subside in the middle east.
Overall, whether the war there ends or not, we are still in for a lot more pain and there is no doubt that there is still a lot more pain to come before commodities will finish their run. I hope everyone is prepared. I know I'm not prepared enough and that is scary to think about...