According to the recent progress of China-US economic and trade negotiations, macroeconomic data expectations, and the dynamics of the cryptocurrency market, the trends in the cryptocurrency market can be analyzed from several dimensions:

Reduction of China-US tariffs and trade easing: Improvement in liquidity and increased risk appetite

Direct impact of significant tariff reductions

According to the joint statement between China and the US, the US tariffs on China have been reduced from 125% to 10%, and China has taken reciprocal measures. This move has significantly alleviated the trade tensions that have existed since early 2025, reduced uncertainty in the global supply chain, and boosted market expectations for the economic recovery of China and the US. The easing of trade friction may reduce further pressure on global inflation, thus providing more room for the Federal Reserve to cut interest rates, promoting liquidity release, which is favorable for risk assets including cryptocurrencies.

The dual attributes of the cryptocurrency market as a safe haven and a risk asset

During the peak of the China-US tariff war, the cryptocurrency market experienced significant volatility as it was categorized as a high-risk asset (for example, Bitcoin once plummeted by 19%). However, as trade tensions eased, market risk appetite rebounded, and Bitcoin's 'digital gold' attribute may be reinforced again, attracting institutional funds (such as MicroStrategy, the US state government's Bitcoin reserve program). At the same time, altcoins may welcome a rebound opportunity due to the effect of capital rotation (for example, Ethereum's daily increase reached 22%).

Summary: The current cryptocurrency market is driven by multiple factors including favorable macroeconomic policies, technological ecosystem upgrades, and inflows of capital. Short-term volatility does not change the long-term upward trend. Investors need to remain vigilant amid optimism, paying close attention to changes in liquidity and regulatory dynamics.