As the Iran war enters its fourth week, Bitcoin demonstrates "safe-haven-like demand," with stable capital inflows and increased on-chain activity. Meanwhile, gold is experiencing its longest consecutive decline since 1920, and silver ETFs are facing massive redemptions.

This is a historic crossroads. Not because Bitcoin has risen significantly, but because in a real war, the biggest bank on Wall Street has for the first time explicitly acknowledged: Bitcoin's role during times of economic and monetary instability and geopolitical tension.