Recently, with the global geopolitical situation becoming tense, especially with the approaching US presidential election, investors from all walks of life have begun to seek safe-haven assets to combat economic uncertainty. Bitcoin and gold are the main beneficiaries because they are seen as assets that combat the depreciation of the US dollar and are also considered to have "value storage" characteristics.

At around 21:30 last night, Bitcoin quickly rose to nearly the $68,000 mark. Perhaps because of the setback in the opening of the U.S. stock market or investors’ profit-taking, a large amount of selling pressure emerged, causing the price of Bitcoin to plummet by more than $3,000 in one hour, reaching a low of $64,781. But just when investors thought that the decline was just beginning to emerge, Bitcoin made a V-turn and pulled back to $67,000. The price fluctuations in the "N" shape trend led to a double kill of long and short positions. As of the time of writing, the price of Bitcoin was quoted at $67,751, up about 2.01% in the past 24 hours.