#美伊局势影响 Early this morning, the crypto market followed the US stock market higher, reaching a recent high. Bitcoin (BTC) briefly surpassed 74,000, with a 24-hour increase of over 7%; Ethereum (ETH) broke through 2,200, up 7.97% in 24 hours; Solana (SOL) exceeded 94, with a 4.71% 24-hour increase. The total crypto market capitalization is approximately $2.5 trillion, with BTC dominance around 58%. Trading volume increased by 15% in the past 12 hours, and the Fear & Greed Index is at 19, indicating extreme fear.

Amid the Middle East conflict, which has impacted global stock markets and commodities, BTC has defied the trend to reach a one-month high, driving a recovery in the overall crypto market. After falling nearly 50% from its all-time high last October, BTC was in an oversold zone. Following the outbreak of this major conflict, traditional assets have plummeted, while BTC's relatively resilient performance has reinforced its phase "safe-haven narrative."
The recent rally is mainly driven by three factors:
1. "Fiat currency devaluation" logic reasserted
The escalation of the Middle East conflict increases global fiscal pressure, potentially boosting expectations of easing policies and deficit expansion, reinforcing the "fiat devaluation" narrative, leading some funds to reallocate into digital assets.
2. Expectations of easing in Middle East tensions
Although the US has not responded, this news has strengthened market expectations that the conflict may not spiral out of control long-term, supporting risk asset sentiment recovery.
3. CLARITY bill nearing passage
Aiming to clarify the legal status of stablecoins, which is positive for the crypto market.