Langzi agrees to suspend military operations, but the war is not over.

The most core change in the current market is the phased retreat of risk aversion sentiment.
The uncertainty premium caused by the tense Middle East situation is rapidly being digested, which, for the high-level oscillating Bitcoin, will weaken short-term emotional support, and the cost-effectiveness of chasing highs further decreases.
But it should be noted that this is only a ceasefire, not a final resolution; the stakes in the Strait of Hormuz are still there, and the direction of subsequent negotiations remains uncertain, so the market will not directly enter a purely optimistic phase.
Overall, geopolitical risks have shifted from "overt outbreaks" to "covert games," and the trend is likely to continue oscillating with tug-of-war, mainly focusing on short-term trading and strictly controlling risks.