Market Analysis:

On March 1st, the market is experiencing an extreme divergence driven by a historically significant geopolitical conflict—gold prices are breaking new highs as a safe haven, while the crypto market is undergoing a technical rebound after a "flash crash," but the nearly 150,000 liquidation events reveal its nature as a risk asset.
Macro News:
1. After news of the US-Iran conflict on February 28th, Bitcoin plummeted straight down, breaking through the $64,000 level twice, with a low of $62,463, hitting a recent new low;
2. Following the confirmation by Iranian media on March 1st that Khamenei was killed, the market began to anticipate that Iran's retaliation would be foreseeable and limited. Funds shifted from "panic selling" to "risk re-pricing," with Bitcoin, Ethereum, and other digital currencies violently rebounding first, with further gains. The death of Khamenei indicates that the war pattern has been set, and the worst uncertainties have been eliminated;
3. The Iranian Revolutionary Guard's "full retaliation" statement + the closure of the Strait of Hormuz will disrupt 20% of global oil trade, causing tension in global energy supply. Market volatility remains, and the rebound is limited;
4. Gold purely reflects the "traditional safe haven asset" attribute, continuing to strengthen amid escalating geopolitical risks. However, short-term profit-taking is concentrated, and if the situation eases, gold prices may surge and then fall back. Also, be cautious of short-term pressure from gold ETF reductions;
Special Reminder: Iran's retaliation is imminent, and crypto market volatility will intensify. Do not hold large positions overnight. #美国以色列突袭伊朗BTC短线跳水 $BTC $ETH