Trump signals five-day pause on military strikes against Iran, and global assets rally in response. Spot gold surges over $100 in the short term, Bitcoin quickly breaks through $71,000, while Brent crude crashes more than 14% at one point.

This phenomenon once again confirms the core pricing logic of the current market: everything revolves around "oil prices" and "interest rate expectations."

A pause on strikes means the blockade risk in the Strait of Hormuz is temporarily eased. Oil prices crashed more than 14%, directly lifting the market's most intense "inflation alarm"—oil prices stop soaring, Federal Reserve rate-cut expectations are restored, and real interest rate pressure eases. Assets like gold and Bitcoin, which previously fell under the pressure of high rates, immediately get a breather and launch a collective counterattack.

U.S. equities benefit equally from this. Previously, the market worried that oil breaking $100 would erode corporate profits and delay rate cuts. Now with short-term risks eliminated, risk appetite rebounds sharply.

What's worth pondering is that this "five-day window" itself carries uncertainty. What the market is really waiting for is whether oil prices can sustain their decline, and whether inflation expectations can truly cool down. As long as the latent risks in the Strait of Hormuz aren't completely eliminated, any slight movement will still trigger severe volatility. But at least for now, global assets have made clear with a collective rally their common appeal: peace is more precious than gold. $SIREN