The tensions between Iran and Israel have indeed raised concerns among investors, and any disruption in the Strait of Hormuz, a global chokepoint for oil transport, could indeed trigger a spike in oil prices and broader market turmoil. However, the probability of such an extreme scenario occurring may be limited, as the international community, especially the United States, is unlikely to stand by and allow this crucial waterway to be completely blocked.

In addition to geopolitical risks, other uncertainties are also influencing market sentiment, such as the potential escalation of tariff policies in the U.S., the ongoing Russia-Ukraine conflict, and global macroeconomic instability. In such an environment, market fluctuations are more driven by news rather than fundamental factors.

Looking back at the previous bull market, many investors may remember that even mediocre quality copycat projects could easily achieve tens of times in gains. However, that was more a result of excessive liquidity and retail enthusiasm, lacking deep participation from institutional funds. This prosperity built up by the "retail army" is often difficult to sustain. A true bull market requires sustained inflows of institutional funds, combined with macroeconomic benefits such as a shift in Federal Reserve monetary policy (like interest rate cuts), to create a more solid foundation for upward movement #btc