Good morning everyone!

In the early hours of today, the situation between the US and Iran escalated sharply again. The United States launched a new large-scale military strike against multiple Iranian military targets, with the scale of operations further expanding compared to before. At the same time, the US announced the revocation of some temporary sanctions exemptions previously granted for Iranian oil sales, with new transactions suspended and only a brief transition period retained. Affected by this news, international crude oil prices rose more than 5% during intraday trading, and risk aversion in global markets clearly heated up.

For the crypto market, geopolitical risks have once again suppressed the rebound momentum that had been somewhat repaired. The market had been expecting subsequent peace talks between the US and Iran this week, but now they are once again filled with uncertainty. This once again validates the previous view that, although the two sides have reached interim agreements, they still lack sufficient trust foundation. As long as conflicts escalate again, the situation may fluctuate, and market risk appetite will quickly cool down.

However, judging from last night's market performance, Bitcoin has shown strong resilience. Against the backdrop of a collective decline in US tech stocks and chip stocks, with the Philadelphia Semiconductor Index falling 4.65%, Bitcoin's overall decline was relatively limited and did not see the panic selling seen previously. Meanwhile, there were no large-scale cascading liquidations in on-chain contract markets, indicating that current market leverage risks are relatively controllable and capital sentiment is more stable than before.

This suggests that against the backdrop of continuously escalating geopolitical risks, more and more capital is beginning to regard Bitcoin as an asset with both anti-inflation and safe-haven properties, and its correlation with traditional risk assets is gradually weakening. Of course, this trend still needs more time to be verified, and the short-term market will continue to be disturbed by news flows.

For today's broader market, as long as it can continue to maintain consolidation and oscillation, it is already considered a relatively strong performance. In the short term, focus on support levels around BTC 62000, ETH 1730, and SOL 77.

Overall, before the US-Iran situation becomes clearer, the market is likely to continue oscillating. In terms of operations, it is recommended to continue with short-term and intraday swing trading strategies, patiently waiting for the geopolitical situation to ease and for the market direction to become clearer before considering deploying daily-level opportunities.
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