On the 22nd, U.S. Treasury Secretary Bessent announced that all Iranian airlines would be forcibly grounded starting from the 23rd. This Treasury regulatory action’s practical impact first falls on the energy market rather than the crypto sector. The market had generally expected that Middle East geopolitical-related sanctions would hit risk assets first, but in reality oil prices moved up first, while crypto assets such as BTC and ETH have not yet shown major volatility. The core difference lies in the fact that the market’s current pricing priority for crypto regulatory events remains lower than concerns about disruptions to energy supply. It also reflects that the crypto market’s sensitivity to cross-border sanctions-type policies is still weaker than that of the traditional energy market. $BTC $ETH #加密监管 #地缘风险 #Market Watch