Bitcoin

The data highlights how non-financial humanitarian crises now indirectly pressure crypto markets through the 'risk perception channel'—when traditional assets (like commodities) face supply shocks, crypto's correlation with risk-on assets increases. This fits the current macro environment where 75% of institutional traders prioritize geopolitical risk over technical indicators, according to Q3 fund surveys.

Analysis reveals over 20,000 incidents of food-related violence since 2018, including attacks on markets and food distribution systems.