Geopolitical tensions are escalating, and regional conflicts continue to ferment. Historically, whenever major unexpected events or political upheavals occur globally, Bitcoin tends to come under pressure and decline—this has almost become the market's "destiny." War, high-level meetings, policy shocks—most of the time, Bitcoin follows the trend downward, as if illustrating the inevitability of "black swan events."

But this time, could things be different? The current crypto market environment is no longer what it was before. Institutional investors are entering the market, sovereign funds are allocating, and ETF products are maturing—these variables are rewriting Bitcoin's risk pricing logic. Perhaps this shock could instead become an opportunity for value re-evaluation, breaking the past downward curse. Or, in other words, the market is testing this hypothesis. It is worth observing how this round of market movements will unfold.