【February 28th Market News and Data Analysis】

1. The yield on the U.S. 30-year Treasury bond fell to 4.63%, the lowest level since October of last year;

2. The worsening situation between the U.S. and Iran has further impacted the market, with #BTC dropping below $65,000, and the Nasdaq and S&P recorded the largest monthly decline in nearly a year;

3. Vitalik: #ETH expansion will be implemented in two phases, short-term and long-term, introducing multi-dimensional Gas to avoid state inflation;

4. NVIDIA is about to launch AI-specific processing chips.

The geopolitical tensions between the U.S. and Iran have escalated, significantly increasing market risk aversion. As a result, global risk assets were generally under pressure at the end of February, with the total market value of the cryptocurrency market falling to about $2.27 trillion, and Bitcoin's intraday price dropping below $66,000. Meanwhile, U.S. long-term Treasury bonds are in high demand, with their 30-year yield falling to 4.63%, a new low since October of last year. The U.S. stock market has also not been spared, with the Nasdaq and S&P 500 indices recording significant declines in February, indicating that funds are withdrawing from high-risk areas.

From the market interpretation, such geopolitical crises usually immediately impact the prices of cryptocurrencies like Bitcoin, as they are still widely regarded as high-risk preference assets and face sell-offs in times of panic. However, the long-term effects are more complex. A decline in U.S. Treasury yields often indicates a change in market expectations regarding economic growth and inflation, while Bitcoin, due to its fixed supply characteristic, is often viewed by some investors as a tool for hedging traditional financial risks. Therefore, although short-term price declines are hard to avoid, if the situation continues to be turbulent, some capital seeking alternative safe havens may reassess and flow into the crypto space, thus providing new support for the market.