Market sentiment has clearly turned cautious, with investors exhibiting typical 'risk-averse' behavior in response to the tariff announcement. The total market capitalization of the cryptocurrency market has fallen by about 25.9% from its January peak, evaporating nearly $1 trillion in market value, highlighting its high sensitivity to macroeconomic instability factors. The trends of crypto assets and the stock market are highly correlated, both facing cooling demand, widespread sell-offs, and entering correction territory. In contrast, traditional safe-haven assets such as bonds and gold have performed excellently, with gold continuously hitting record highs, becoming a safe haven for investors amid rising macro uncertainty.