Gold, bonds, and Bitcoin are reflecting the true current trends in the financial markets. Recently, we saw gold prices plummet to $4,100 per ounce, bond prices continue to rise, and Bitcoin has increased by about 8% since the outbreak of the conflict.

However, during the Middle East conflict, market movements were completely opposite: Treasury yields rose and prices fell. The reason for this is the sharp surge in oil prices, which has brought about typical stagflation risks.

These stagflation risks prevent the Federal Reserve from cutting interest rates, and inflation concerns have resurfaced. Worries about inflation have changed investors' decision-making logic, leading them to stop aggressively pushing up Treasury prices and suppressing yields. $BTC