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Amid the sound of gunfire, BTC rises above 70,000: Is it stable or just holding its breath?
When the US announced an imminent "large-scale attack" on Iran, the market's first reaction was: risk assets trembling. But what happened? Bitcoin defied the trend and rebounded, approaching the 70,000 mark again, as if saying: "You panic, you panic. I'll go up first."
The question is, is 70,000 stable? From an emotional perspective, this is a highly symbolic integer level, serving as both a psychological fortress for bulls and a sniper position for bears. Every time it stabilizes, the market collectively takes screenshots and posts on social media; every time it breaks below, meme creators start working.
BTC's rebound amid geopolitical conflict actually indicates that funds are beginning to include it as a "backup safe haven asset." Although it doesn't yet carry the "ancestral sense of security" like Gold, it has at least shed the label of "pure risk asset." However, whether it remains stable in the short term depends on whether global sentiment can stay tense. If the conflict cools down quickly, BTC might revert to risk logic.
So, 70,000 is not the end point but a test of consensus. Is it stable? It depends on whether funds are willing to continue adding positions amid rolling news of gunfire, rather than waiting for calm to chase the high.