On October 6, 2023, Israel launched airstrikes on Iran, why is the cryptocurrency market once again plunged into 'panic'?

At 8 a.m., a shocking piece of news broke the silence: Israel conducted airstrikes on Iran. As soon as the news broke, the financial markets were thrown into turmoil, especially in the cryptocurrency space, where investors' nerves were tightly strung. Ethereum, the leader of digital currencies, seemed to touch a high of $2800 in that moment, which then triggered a wave of astonishment in the market—was this a signal of a peak? Is the cryptocurrency market about to face a new round of major plummets?

In the face of such an unexpected event, many people's first reaction may be panic. After all, military conflicts have always been regarded as 'black swan' events in financial markets, and the uncertainty they bring is often enough to cause asset prices to fluctuate dramatically. However, when we calm down and carefully examine history and reality, we may find that things are not so straightforward.