Is BTC really a safe haven asset? The recent war has provided the answer

In the past few years, the crypto world has been trying to tell a story:
"BTC = Digital Gold."
But as the US-Iran conflict escalated, BTC immediately dropped first.
Many people were caught off guard.
But the reality is actually quite simple:
BTC now behaves more like a "high-volatility growth asset."
When the market worries about tightening liquidity, it will be sold first.
Especially this time, the Middle East situation triggered concerns about rising oil prices, and the market immediately started reassessing the timing of rate cuts.
So tonight's non-farm payroll report is particularly critical.
If employment remains strong, the Federal Reserve will likely delay rate cuts;
If employment cools down, the market will re-enter risk appetite mode.
Currently, BTC's biggest support isn't technical levels, but institutional ETF funds.
As long as ETF funds don't experience large-scale outflows, the long-term logic for BTC remains intact.
The crypto world is often like this:
News is responsible for creating panic,
Liquidity determines the final direction.
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