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Bloomberg ETF analyst Eric Balchunas (Eric Balchunas) points out that Bitcoin and gold appear to be upending their inherent perception as safe-haven assets. Following the escalation of US-Israel-Iran conflict on February 28, gold prices fell more than 15% to approximately $4,407 per ounce, while Bitcoin prices rose about 10% to approximately $69,350. This shift is reflected in ETF fund flows, with the SPDR Gold ETF experiencing $2.2 billion in outflows last week, while US spot Bitcoin ETFs recorded net inflows of $95 million.