Oil prices break $110, has BTC's safe-haven property really returned?
This week, the geopolitical conflict in the Middle East continues to escalate, with the South Pars gas field, Qatar's LNG facilities, and Saudi energy facilities being attacked in succession. Brent crude oil has surpassed $110/barrel, putting pressure on global risk assets.
Interestingly, BTC has shown significant resilience in this round of fluctuations: it has only retraced 2.3% over the past 7 days, much better than the S&P 500's 3.8% and Nasdaq's 4.5%. On-chain data shows that whales with address balances of ≥1000 BTC have accumulated an additional 12,000 BTC in the last 3 days.
In the context of the normalization of geopolitical conflicts, the allocation value of crypto assets as 'neutral cross-border assets' is being recognized by more institutions, and a gold + BTC safe-haven combination may become the mainstream allocation choice in the next 2 years.
#BTC #crypto market #geopolitics
This week, the geopolitical conflict in the Middle East continues to escalate, with the South Pars gas field, Qatar's LNG facilities, and Saudi energy facilities being attacked in succession. Brent crude oil has surpassed $110/barrel, putting pressure on global risk assets.
Interestingly, BTC has shown significant resilience in this round of fluctuations: it has only retraced 2.3% over the past 7 days, much better than the S&P 500's 3.8% and Nasdaq's 4.5%. On-chain data shows that whales with address balances of ≥1000 BTC have accumulated an additional 12,000 BTC in the last 3 days.
In the context of the normalization of geopolitical conflicts, the allocation value of crypto assets as 'neutral cross-border assets' is being recognized by more institutions, and a gold + BTC safe-haven combination may become the mainstream allocation choice in the next 2 years.
#BTC #crypto market #geopolitics