As geopolitical tensions escalate, investors are watching how Bitcoin may perform in a potential Iran war. Historical data shows that market reactions are often limited at the beginning of wars, but Bitcoin typically behaves like a high-risk asset and is susceptible to macroeconomic factors. In the short term, it may fall or stabilize, so investors need to monitor relevant economic indicators and the course of the conflict.

U.S. Congressional Democratic lawmakers have introduced the "BETS OFF Act," aimed at restricting predictive betting on wars and national security events to prevent speculation using sensitive information. The bill stems from unusual betting activities, with Senators Murphy and Representatives Casar emphasizing the ethical controversies and systemic loopholes in such conduct. If the bill advances, it will impact blockchain-based event trading models.

Bitcoin's recent price has fluctuated between $65,000 and $70,000. Despite escalating geopolitical conflicts, experts believe that large-scale wars could prompt the Federal Reserve to inject liquidity, boosting the value of risk assets like Bitcoin. The impact of the conflict on energy supply and market confidence may also support Bitcoin prices in the medium term. Overall, market sentiment and profit-taking strategies will continue to influence short-term trends.

Ray Dalio, founder of Bridgewater Associates, stated at the World Economic Forum in Davos that the global monetary order is collapsing and recommended investing in gold. He mentioned that as central banks around the world lose confidence in fiat currencies, investors are uneasy about the printing of US debt, and there may be capital wars in the future.

January 21 News, the $ZAMA public auction based on the Zama protocol has officially launched today. This auction adopts a sealed bid Dutch auction mechanism, which is highly recognizable in the current crypto market. Unlike traditional first-come-first-served or bidding matching models, this mechanism emphasizes distribution quality and true price discovery rather than simply pursuing high FDV or sales volume. As a result, it is regarded by many crypto investors as a more "rational" token issuance model. A key highlight of this ZAMA auction is that all bids are submitted via encryption and are unrelated to time. This means there will be no gas fee bidding wars, bot sniping, or front-running issues. Regardless of the size of funds, participants are on equal footing at the rule level.

The overall cryptocurrency market remains in a volatile pattern, with XRP prices rising slightly by about 1% on the day, reaching around $2.06 at one point. After multiple tug-of-wars, XRP successfully held the short-term support zone, but upward momentum remains limited, and the market is generally in a wait-and-see stance. From the macro perspective, Bitcoin and Ethereum failed to continue their previous rebound during the US trading session, with mainstream assets overall continuing the sell-on-rises trading sentiment, and risk appetite being relatively weak. Overall, the current market lacks clear macro or capital-level catalysts, leading funds to prefer short-term speculation rather than trend-based positioning.

J.P. Morgan analysts pointed out in their report that the dominance of the US dollar as the global foreign exchange reserve may weaken, partly due to the impact of trade wars. Although the US dollar remains the core reserve currency in the short term, a de-dollarization trend may gradually emerge, with central banks and investors seeking diversification, and gold could become the main beneficiary.

Foresight News reports that the FHE Cryptography company Zama announced it will sell 10% of its ZAMA Token supply through a Dutch auction on Ethereum. The auction will take place from January 12 to 15, and distribution will begin on January 20. The auction uses the Zama protocol to maintain bid confidentiality, aimed at achieving fair distribution and real price discovery, avoiding Bots snatching and Gas Fee wars, and the tokens will be unlocked immediately after the auction ends. ZAMA is the utility token of the Zama protocol, primarily used to pay for encryption and decryption fees, and can be staked or delegated to operators, helping to protect FHE coprocessors and KMS Nodes. The Zama Mainnet is expected to launch by the end of the year, and ZAMA will be fully online before the auction.

Alliance DAO co-founder QwQiao believes that the fee/revenue ratio is an important indicator for assessing the L1 moat. Projects lacking a moat may lose market share or maintain it through price wars, while projects with competitive advantages can achieve sustained rise. He suggests following the Application Layer for long-term value.