币界网报道：QCP released an analysis today saying, "Although Israel resumed limited air strikes hours after the temporary ceasefire, financial markets were barely affected. Instead of showing a "risk-off mode", the market has turned to a "risk preference" across the board - the Nasdaq 100 hit a record high, and the S&P 500 is less than 1% away from its all-time closing high in February 2020. At the same time, oil prices have fully retreated to pre-conflict levels, further boosting the shift in market sentiment. Among S&P 500 stocks, Coinbase (COIN) surged 12% on Tuesday to close at $344.94, the highest level in more than six months. On the other hand, institutional interest in Bitcoin continues to heat up. The ProCap fund managed by Anthony Pompliano has attracted market attention and recently purchased $386 million worth of Bitcoin. This is its clear strategy to use Bitcoin as a "corporate fiscal reserve asset." Since the beginning of June, the number of companies that have included Bitcoin in their balance sheets has almost doubled, and now more than 240 companies hold a total of 3.45 million BTC. If this trend continues, Bitcoin is not only expected to rival gold as a macro hedging tool, but may even compete in terms of total market value. In this environment where the three forces of macro, military and currency converge, traditional risk premiums are changing from "hedging tools" to "market benchmark assumptions." The market's tolerance for geopolitical fluctuations is undergoing an unprecedented test. "