Iran and Israel are fighting again, and the global situation is beginning to show signs of evolving into a third world war: multiple regions, various forms of localized hot wars.

A few days ago, I saw a post from a friend in the square saying that Russia and Ukraine are about to cease fire, so why hasn’t Bitcoin reacted at all to this good news?
Before discussing the impact of war on cryptocurrency prices, we must clearly recognize that Bitcoin is both a 'safe-haven asset' and a representative of 'high-risk volatility.'
Next, let’s analyze layer by layer like peeling an onion:

Short-term panic: first a decline, then a rise; it’s all about the thrill!
Why does it drop?
Answer: When the war just begins, everyone feels anxious, just like during an earthquake, everyone wants to run outside. At this time, high-risk assets like Bitcoin are naturally sold off, as panic will lead everyone to sell off uncertain assets first.