Financial markets are now pricing in weekend geopolitical tensions, with gold and crude oil prices rising sharply, the U.S. dollar index climbing, and increased demand for safe-haven assets. The surge in crude oil prices has fueled concerns about future inflation, pushing long-term bond yields significantly higher and increasing demand for duration-linked assets as investors worry about inflation, global economic prospects, and government fiscal risks. The U.S. stock market’s risk index (SPHB/SPHQ) has declined, reflecting reduced risk appetite, with tech stocks collectively falling in pre-market trading. Geopolitical tensions have triggered selling in risk assets, causing a short-term flight of liquidity toward safe-haven assets. The pre-market decline in U.S. stocks has not further dragged down #Bitcoin, as Bitcoin had already priced in the geopolitical tensions over the weekend. Today’s volatility will depend on U.S. stock market activity after its opening. If U.S. equities continue to fall sharply, BTC may follow suit.