#特朗普暂停新关税 The Trump team has signaled a pause in the new round of tariffs on China, leading to a short-term recovery in global market sentiment.

This is not only a strategic easing of geopolitical relations but also an indirect release of supply chains, risk assets, and cross-border capital flows. Risk aversion has eased, risk appetite has returned, and some crypto assets have benefited accordingly.

Every shift in policy leaves echoes in the market structure. For asset prices, direction is more important than speed. The wind is changing, and the market is recalibrating.