#深度创作营 Why do cryptocurrencies tend to plummet once there is a major geopolitical conflict? Isn't it supposed to be a safe-haven asset?
In fact, a decline is a normal part of economic and capital market behavior!
1. The first reaction of global capital: reduce risk, focus on “volatility” rather than “story”
From a pure asset pricing perspective:
Gold, U.S. Treasuries: low volatility, high liquidity, traditional safe-haven assets
Cryptocurrencies: high volatility, high risk, highly elastic assets
When geopolitical conflicts erupt, the standard move for global institutions is to reduce overall