The change in the global geopolitical situation affects the cryptocurrency market through influencing investors' risk appetite. In times of geopolitical tension, such as trade disputes or military conflicts, investors tend to be more risk - averse. Some may turn to safe - haven assets, and Bitcoin, with its characteristics of decentralization and limited supply, may be seen as an alternative safe - haven in some cases. Thus, geopolitical tensions may drive up the price of Bitcoin. On the other hand, if geopolitical events lead to more regulatory uncertainties for cryptocurrencies, it may also cause a decline in the market.