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比特币、黄金和标普500自伊朗冲突开始以来的对比图表。在黄金和标准普尔500指数下跌的背景下,比特币的上涨不是其避险资产地位的证明。关键因素——市场所处的不同阶段。比特币在冲突开始时已经处于深度调整(−距离历史高位下跌50%),此时大量卖盘已经出场。相比之下,黄金和标准普尔500指数仍然保持在接近最高点的水平,这里市场更容易受到获利了结和下跌开始的影响。因此,观察到的动态更多是由时机和周期阶段决定的,而不是比特币转变为"数字避险所"这一类别的结果。
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