Recently entered some small-cap coins and want to discuss the current market sentiment from a different perspective.

To be honest, the intense fluctuations in the international situation are becoming an uncontrollable variable in the crypto market. Major events like these are often triggered by several levels that provoke market reactions:

The first level is the impact of the event itself—the market quickly prices in this uncertainty. But the true climax often occurs in subsequent developments. The confrontation in international public opinion, the gradual escalation of sanctions and counter-sanctions, are the real tests of market psychology.

The second perspective worth considering is—how these events might reshape the future geopolitical landscape. From a historical perspective, any major conflict is either integrated into the existing order or drives the restructuring of the order itself. Such changes in order have profound implications for asset allocation.

The third reality is that uncertainty itself is the foundation of crypto asset pricing. The more traditional financial systems face pressure, the more people will reassess the value of decentralized assets. How far this trend can go may depend on the evolution of external environments.