The most radical round of tariff policies since the 1930s is having a profound impact on the macro economy and the cryptocurrency market. In the short term, the cryptocurrency market may continue to exhibit high volatility, with investor sentiment swinging in response to trade war news.

If inflation remains high while growth slows, the Federal Reserve's response will become a critical turning point: if it shifts to easing, the cryptocurrency market may rebound due to a recovery in liquidity; if it maintains a hawkish stance, pressure on risk assets will persist.

If the macro environment stabilizes and new narratives emerge, cryptocurrency assets may regain their long-term safe-haven status, and the market is expected to welcome a recovery. Before that, the market may maintain a volatile pattern and be highly sensitive to macro news. Investors need to closely monitor global dynamics, maintain diversified asset allocation, and seek opportunities in potential market misalignments brought about by the trade war.