Recently, the turmoil in the geopolitical situation has stirred ripples in the world of Crypto Assets. After Iran suffered airstrikes, the hashrate of the Bitcoin network plummeted by 25%, marking the first time that Mining Farms have suffered a "precision strike" in a geopolitical conflict. This event not only reveals the sensitive reaction of on-chain data to global events but also highlights that Bitcoin is becoming a key liquidity tool for certain countries.

In this geopolitical game, Bitcoin is no longer just a tool for hedging against inflation; it is becoming an important resource for some countries to exchange foreign currency, support black market exchange rates, and even maintain regimes. This shift has made Bitcoin's strategic position increasingly prominent.

Despite Bitcoin prices remaining stable for the time being, the network's hashrate has not fully recovered. On-chain data shows signs of capital outflow, and some large holders may be adjusting their positions to hedge. Meanwhile, stablecoin trading pairs are showing premiums, reflecting subtle changes in market sentiment.

For ordinary investors, it is important to note the following points: First, a sharp change in hashrate does not directly equate to a price drop, but it indicates that potential geopolitical risks need to be reassessed. Second, the withdrawal of miners and related regimes may lead to delayed selling pressure release, and investors should be prepared for fund management. Finally, in this situation, market hotspots may rotate more quickly, and investors should not cling to obscure coins.

The role of Bitcoin is evolving from a mere speculative asset to an important bargaining chip in the global geopolitical game. This shift not only reflects the increasing influence of Crypto Assets on the international stage but also provides us with a new perspective on understanding the future direction of the global financial system.