There are currently no signs of easing in the US-Iran-Israel conflict. Recently, Israel, in coordination with the US, launched attacks on energy field facilities in southern Iran, including Bushehr. In retaliation, Iran struck energy facilities in Qatar and Saudi Arabia, directly disrupting the global energy supply chain. As a result, it's predicted that international crude oil prices will continue to rise. At the same time, US President Trump has repeatedly called on allies to participate in actions against Iran and support the US-Israel efforts, but most NATO allies have shown a lukewarm attitude, explicitly refusing to get involved in the conflict. Moving forward, attention should focus on the spillover risks of the conflict and fluctuations in oil prices. Rising oil prices will directly exert downward pressure on global consumption and employment while further driving up inflation levels. Considering Federal Reserve Chair Powell's remarks, which clearly emphasize a policy stance of "maintaining rates, cautious rate cuts," the short-term outlook for cryptocurrencies suggests limited potential for a significant rebound, with a high likelihood of continued consolidation and adjustment. The long-term trend will depend on inflation data, Federal Reserve policy adjustments, and further developments in the Middle East situation.