In today's cryptocurrency market, various indicators have already dimmed in the face of ZC, whose calling power can forcefully turn the market into a 'Trump rhythm'! Bitcoin has returned to $104,000 after three months, and Ethereum has surged by 22% in one breath, with market sentiment switching directly from 'panic' to 'greed mode'.

Today, let's analyze the logic behind this:

The easing of tariffs has directly weakened the market's panic over the 'global trade war', causing gold to drop and safe-haven funds to flock into BTC, the 'digital gold'.

Trump is simultaneously promoting the implementation of the 'Stable Market Regulatory Act', with the SEC chair being replaced by a pro-crypto figure, and institutional funds are madly buying up through spot ETFs. The data doesn't lie: on May 7, BTC's spot ETF net inflow was $142.3 million, while ETH's leveraged positions surged, indicating that large holders have long been sharpening their knives.

ETH's 22% surge is a 'doomsday carnival' created by retail investors using leverage, compared to BTC's 'caution'. This wave of ETH seems more like a short squeeze led by retail investors. The successful upgrade of Pectra was originally a long-term positive, but was turned into a short-term surge catalyst by leveraged funds. Coinglass data shows that on the evening of the 8th, $650 million in ETH short positions were liquidated, and a certain whale's precise buying of 7,000 ETH directly ignited the market's FOMO sentiment.

But remember, policy directions can change at any moment, and leveraged funds can run away at any time. Don't let greed blind your eyes—after all, in the crypto circle, profits earned are the true gold and silver.