Due to the impact of the attack by 25352384443 on Iran, 60314393366 has surged significantly, while US stock index futures and the cryptocurrency market have seen widespread declines. #BTC dropped to around 102,600 USD at its lowest. According to CoinAnk data, in the past 24 hours, the total liquidation amount in the cryptocurrency market reached 1.013 billion USD, of which the liquidation amount for long positions was about 937 million USD, and for short positions was about 75.5489 million USD. The liquidation amount for BTC was 419 million USD, and the liquidation amount for #ETH was about 215 million USD.

The impact of the upgrade on the financial market shows typical characteristics of geopolitical risk transmission, and it also reflects the intensification of the divergence between safe-haven assets and risk assets. Israel's military actions against Iran have triggered panic, causing gold, as a traditional safe-haven asset, to rise sharply contrary to market trends, continuing the historical pattern of 'buying gold in chaotic times' during Middle Eastern conflicts. Meanwhile, US stock index futures have broadly declined, reflecting investors' selling behavior towards risk assets, consistent with the market reaction logic of the US stock market's single-day drop of 475 points during the Iranian attack on Israel in April 2024.

Bitcoin has plummeted, with a total liquidation of 1.013 billion USD across the network, of which long positions accounted for 92.4%, highlighting the fragility of leveraged funds in sudden geopolitical events. This phenomenon resonates with the historical case of the cryptocurrency market experiencing a single-day liquidation of 966 million USD during the Middle Eastern conflict in April 2024, indicating that the cryptocurrency market has not yet detached from its high-risk speculative nature. It is noteworthy that the imbalance in the liquidation ratio (with long positions exceeding 90%) reflects the majority of investors misjudging the safe-haven function, resulting in an actual trend that diverges from traditional safe-haven assets like gold.

Although some studies advocate that Bitcoin possesses 'digital gold' attributes, this event once again verifies that in the face of sudden geopolitical crises, cryptocurrencies are more susceptible to liquidity squeezes and leveraged liquidations, amplifying volatility, and their safe-haven function remains unstable. The current divergence in the trends of gold and cryptocurrencies essentially reflects the risk pricing differences between traditional safe-haven mechanisms and emerging assets, and investors are advised to be wary of asset mismatch risks in geopolitical risks.