QCP: War risk cools down, market shifts to risk preference mode

According to BlockBeats news, on June 25th, QCP released a daily market observation stating that "although Israel resumed limited airstrikes after a temporary ceasefire for several hours, the financial market was hardly affected by volatility. The market not only did not show a 'safe haven mode', but also turned to a 'risk appetite' - the Nasdaq 100 index hit a historic high, and the S&P 500 index is less than 1% away from its historic closing high in February 2020. At the same time, oil prices have completely retreated to pre conflict levels, further fueling a shift in market sentiment. Among the S&P 500 constituent stocks, Coinbase (COIN) surged 12% on Tuesday, closing at $344.94, reaching its highest level in over six months. On the other hand, institutions' interest in Bitcoin continues to heat up. The ProCap fund managed by Anthony Pompliano has attracted market attention, as it recently purchased Bitcoin worth $386 million. This is its clear strategy of using Bitcoin as a 'corporate financial reserve asset'. Since early June, the number of companies that have included Bitcoin on their balance sheets has almost doubled, with over 240 companies currently holding a total of 3.45 million BTC. If this trend continues, Bitcoin is not only expected to rival gold as a macro hedge tool, but may even compete in terms of total market value. In this environment where macro, military, and monetary forces intersect, traditional risk premiums are shifting from "hedging tools" to "market benchmark assumptions". The market's ability to withstand geopolitical fluctuations is undergoing unprecedented tests