QCP Asia: Geopolitical conflict escalation drags down market, BTC drops 3% According to QCP Asia analysis, Israel's airstrike on Iran's nuclear facilities resulted in the death of Iranian Revolutionary Guard Commander Salami, triggering a surge in safe haven assets. Oil and gold prices both rose, with S&P 500 futures falling below 6000 points, BTC dropping about 3%, and ETH falling 9%. The volatility of the cryptocurrency market has soared, and the premium of BTC front-end put options has reached 5 volatility points, indicating a strong demand for hedging. At the same time, the massive Internet outage in the United States impacted technology stocks, triggering the liquidation of the encryption market for more than $1 billion. Despite this, institutional demand still supports BTC, and DeFi Development Corp announced a $5 billion fund allocation to SOL, highlighting the continued confidence in mainstream cryptocurrencies.