Trump announces "victory conclusion" in Iran conflict, short-term positive for risk assets: decreased war uncertainty, increased risk appetite for funds, and mainstream cryptocurrencies like Bitcoin and Ethereum are expected to rebound.

However, the Strait of Hormuz issue is left to NATO/Europe, and short-term oil transportation still carries risks, with oil prices potentially remaining volatile at high levels. This benefits energy-related tokens (such as on-chain assets linked to oil concepts), while also boosting inflation expectations, which is negative for U.S. stocks and some high-valuation crypto projects. Overall, the outlook is neutral to slightly positive, with attention to oil prices and actual progress on ceasefire negotiations.