A software stock rally is broadening the market to all-time highs even as the Iran-Israel conflict escalates — good for stock investors, neutral-to-bad for crypto holders.

• Money is rotating out of Bitcoin and into AI software stocks like Palantir, CrowdStrike, and Snowflake, which are bouncing off bottoms.
• The NASDAQ hit a record high despite oil jumping 6-7% on Middle East fears.
• Israel is bombing deep into Lebanon, and Iran is threatening to block the Strait of Hormuz and the Red Sea, which would choke off most Middle East oil.
• The stock market is shrugging off the war because investors are hunting for value and AI growth, not safety.
• Warren Buffett's Berkshire is buying homebuilders (Taylor Morrison, Lennar), a sign smart money sees housing as the long-term play.

Outlook: Software stocks are expected to keep climbing near-term, while oil stays jumpy as long as the Iran conflict drags on.