QCP Capital Analysis points out that despite the renewed tensions in the Middle East, BTC remains relatively stable. After dropping to $102800 last Friday due to news regarding Iran and Israel, it has rebounded to approximately $107000. Institutional buying continues, with Metaplanet and several spot ETFs experiencing seven consecutive weeks of gains, which has supported market sentiment. Currently, BTC, along with other major asset classes, has not shown obvious signs of panic in the context of geopolitical risks, but attention should still be paid to developments in the Strait of Hormuz and the potential impact of further escalation risks on the market.