Market Analysis:

On March 2nd, the crypto market experienced a rapid switch between "risk aversion" and "rationality" amid the intense developments in Iran. As Iran clarified the scope of its retaliatory actions, the market calmed down from extreme panic at the open. Gold prices surged then retreated, while cryptocurrencies saw volatile swings with sharp rises followed by declines.

Macro News:

1. Iran limited the conflict to "confrontation with the United States," rather than making the entire Gulf region an enemy. This significantly reduces the risk of the conflict escalating into a "full-scale Middle East war," which is the core reason the crypto market has cooled from extreme panic;

2. Despite a short-term rebound, over the past 24 hours, the entire network experienced $1.27 billion in liquidations, with both longs and shorts being wiped out, totaling 147,000 liquidations. If Iran's retaliatory actions further escalate in the next 24 hours, market panic will intensify again, and the crypto market could see a secondary crash;

3. Gold, as the ultimate safe-haven asset in geopolitical conflicts, has seen global risk aversion peak as Iran's situation escalates. Capital has flooded into the gold market, pushing London Gold prices above $5300 per ounce, hitting a historic high. Short-term safe-haven premiums will remain high. If Iran's situation unexpectedly eases or the market digests the geopolitical premium, profit-taking will lead to a pullback in gold prices;

Trading Advice: Please inquire during the live session

Special Reminder: Iran's retaliation could happen at any time. Gold has reached a new safe-haven high but is overbought. Trade lightly and never hold positions overnight with full size.
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