【Middle East Conflict Escalates, Market Enters "Most Difficult Stage"?】

Affected by Donald Trump's ultimatum to Iran, global markets are experiencing severe volatility. As the Strait of Hormuz approaches closure, oil prices remain elevated, stagflation expectations are rapidly intensifying, and a sell-off in both stocks and bonds has become the main theme.
In the short term, the market is simultaneously betting on "Trump backing down" (TACO logic) while guarding against further escalation of the conflict, causing price action to be pulled back and forth repeatedly. More critically, capital is beginning to withdraw from the most crowded AI leaders, treating them as "liquidity exits," which often signals that the market hasn't reached its true bottom yet.
The current rebound looks more like an emotional correction rather than a trend reversal.
What's your take—should we be catching the falling knife here, or continue waiting for risk to be released? $ETH