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Proven: Safe-haven assets are always relative!
After Iran closed the Strait of Hormuz, causing continued escalation of Middle East geopolitical conflicts, gold plummeted over 20% from its highs, triggering a comprehensive collapse in precious metals and global stock markets.
Meanwhile, oil surged dramatically on the other side, even affecting oil prices in a certain Eastern great power. After my dad learned the news that oil prices would rise sharply tonight, he immediately drove to the gas station and lined up to fill his tank completely.
In contrast, the crypto market showed relatively solid performance during this bloodbath, with Bitcoin oscillating around 68000 without any wild swings.
So, who do you think is the real safe-haven asset?