China will lower tariffs on U.S. goods from 125% to 10% for a period of 90 days.

From 125% to 10%, this is a gesture, as well as a signal.

It means that China may be willing to come back to the negotiating table, and it also indicates that global trade tensions may find a temporary respite in the short term.

More importantly, this 90-day period acts like a buffer for the market to release emotions — you can view it as a "temporary bull market at the macro policy level."

For the cryptocurrency market, this may not just be a trade event, but the beginning of a revaluation of global risk assets.

Over the past two years, macro headwinds have been too strong: high inflation, high interest rates, high tariffs, and risk assets have faced comprehensive suppression;

Now, one loose screw after another is starting to appear: the Federal Reserve is adopting a dovish stance, China is easing, and capital flows are beginning to stir.

Looking back at BTC, its market cap has stabilized at 2 trillion, and the rotation of funds has noticeably accelerated; once risk appetite begins to recover, cryptocurrency may become the most aggressive testing ground for the return of liquidity.

So don’t be fooled by the "90 days"; this is an experiment, and it’s also a speed-up.

A real bull market always starts quietly from places that no one pays attention to.