Last night, global market sentiment improved comprehensively, driven primarily by a significant easing of Middle East geopolitical tensions, combined with large-scale capital flows returning from safe-haven assets to risk assets, triggering a collective rebound in stock markets and cryptocurrencies, with oil, gold, and other safe-haven assets declining in tandem.

US-Iran tensions cool, risk-off sentiment rapidly dissipates
The US disclosed smooth communications with Iran over the past two days, announcing a pause on military strikes against Iranian energy facilities and establishing a five-day negotiation buffer period, directly alleviating market concerns about conflict escalation and quickly clearing geopolitical risk premiums.

Global stock markets reverse across the board, risk appetite substantially recovers
European major indices reversed from early declines exceeding 2% to close up nearly 3%; US stock index futures rallied nearly 3%, with all three major indices closing in a strong bullish engulfing pattern; FTSE China A50 futures rebounded nearly 2%, with global equity markets warming in sync.

Capital rotation switches, asset prices undergo sharp repricing
With risk-off demand subsiding, capital has withdrawn from safe-haven assets like gold and US Treasuries, pouring into stock markets and cryptocurrencies, with mainstream cryptocurrencies like Bitcoin surging significantly.
International crude oil crashed over 14%, energy inflation pressure eased markedly, market expectations for Fed rate cuts heated up again, further boosting valuations of risk assets.$BTC $ETH ‌#BTC突破71000美元