ChainCatcher news, according to Jinshi reports, members of South Korea's opposition party stated that the entrance to the National Assembly has been blocked as they attempt to overturn the martial law declared by President Yoon Suk-yeol. Opposition leader Lee Jae-myung stated that Yoon Suk-yeol's declaration of martial law is illegal and unconstitutional. He mentioned that military personnel may attempt to arrest lawmakers.The Korean won fell about 1% against the US dollar, reaching a two-year low. The USD/JPY pair fell below 149, hitting a new low for October. This news caught the market off guard, triggering buying in bonds and the yen. Market participants are wondering whether this is a budgetary issue or something worse. After a decline in US Treasury yields, a slight pullback occurred.

ChainCatcher news, FxPro Chief Market Analyst Alex Kuptsikevich mentioned that the recent deep pullback in Bitcoin may be attributed to other factors, as the easing of geopolitical tensions between Lebanon and Israel has weakened investors' demand for safe-haven assets like Bitcoin.Additionally, 21Shares' crypto research strategist Matt Mena stated that such pullback behavior has also occurred at previous Bitcoin highs. He explained, "In March of this year, when Bitcoin hovered around the historical high of $69,000 from 2021, a similar pattern emerged.Bitcoin lingered at that price level for nearly seven days before finally breaking through... When the price approached this level, many participants from the previous cycle began to take profits, as they anticipated a potential pullback."

ChainCatcher News, Bank of America warns that as national debt continues to rise, gold may become the ultimate safe-haven asset in the U.S. market. The bank points out that gold is more attractive than U.S. Treasury bonds, especially in light of potential debt crisis risks.Gold prices in 2024 continue to rise, nearing the historical high of $2,700, with expectations to surpass $3,000 in the future. Meanwhile, the economic plans of U.S. government candidates may further increase debt levels, which also encourages global central banks to increase their gold reserves.

ChainCatcher news, according to CoinDesk, Goldman Sachs analysis shows that Bitcoin has risen over 40% this year, outperforming major stock indices, fixed income securities, gold, and oil. However, according to Goldman Sachs data, despite Bitcoin's strong performance, its volatility results in a return-to-risk ratio below 10%, far lower than gold's industry-leading level of nearly 20%.Bitcoin's low risk-adjusted return validates its excessive volatility, making it unsuitable as a safe-haven asset similar to gold. This is also the reason why traditional institutions prefer to use arbitrage strategies to hedge against Bitcoin price fluctuations.

ChainCatcher news, according to The Block, Nansen analyst Aurelie Barthere estimates that the likelihood of an economic recession this year is 40%.Bitfinex analysts state that during an economic recession, Bitcoin can act as a "safe-haven asset." Although the overall cryptocurrency market may be affected, altcoins in the broader crypto market may be impacted due to decreased liquidity and risk appetite. Investors may become more risk-averse, shifting funds from high-risk assets like small cryptocurrencies to safer investments.