[QCP: Crypto Market Maintains Volatility During US-Iran Conflict] On March 2, QCP released a briefing stating that after the U.S. launched an attack on Iran on Saturday, Bitcoin and Ethereum briefly dropped to $63,000 and $1,910, respectively, before rebounding to their original ranges. Approximately $300 million in long positions were liquidated, but the market reaction was mild, indicating that investors had preemptively reduced positions or shifted safe-haven funds to tokenized gold and other all-weather assets. The options market showed restrained volatility, suggesting that the market was prepared for geopolitical risks. The Trump administration stated that the military action would be limited to "around four weeks," and analysts believe the conflict is still in its early stages, with attention needed on Iran's counterattack capabilities and the operational status of the Strait of Hormuz.