Today's panic index is 74, still in a greedy state.

The ETH/BTC exchange rate rose above 0.03, with a 70% increase in the past three months. Comparing the trend of Bitcoin and the US dollar index $DXY from the beginning of the year to date, there are two obvious divergence points: April 9 (after the 90-day tariff suspension period ends); July 1 (when the "Big and Beautiful Act" was passed).

Whether the trade agreement is announced or not, the market results are surprisingly consistent: bond yields climb, Bitcoin soars, the US dollar falls, and gold rises.

Institutional capital such as family offices and hedge funds can no longer ignore Bitcoin.

Risk assets may continue to rise in the short term.