From February 28 to March 2, the US and Israel launched airstrikes against Iran, triggering a global risk-off sentiment. Initially, BTC, as a high-risk asset, plummeted significantly — in just the first hour of the conflict, selling volume surged by $1.8 billion, with many funds fleeing. BTC dropped to a low of $63,000, and a large number of long positions were liquidated. Meanwhile, safe-haven assets such as gold, crude oil, and silver all rose across the board. International oil prices once surged by $8, gold rose to $5,374 per ounce (a 1.8% increase), and global stock index futures generally opened lower.