The real risk of Bitcoin is not war, but AI! The biggest threat facing Bitcoin is not geopolitical conflicts, but the impact of artificial intelligence on the global economic structure. Tensions between Iran and Israel, for example, have limited influence on the market. The core concern the market truly cares about is whether oil can still flow normally, especially through the critical Strait of Hormuz. Currently, even if oil prices stay in the $110-$120 range, oil transportation remains smooth, which is an important reason for the market's rebound. In other words, as long as the "energy lifeline" remains intact, the market won't truly panic. But a deeper risk lies in—AI is reshaping the labor market. Once employment structures are disrupted, consumption, the economy, and even the entire financial system could experience chain reactions, and this is the long-term source of real uncertainty.