The dynamic tariff policy of the beautiful country always stirs the nerves of the global market. Currently, its tariff policy has partially taken effect — the 10% temporary Benchmark tariff introduced in April this year has officially come into effect, but subsequent policies are full of uncertainties. The new round of tariffs originally scheduled to be implemented on July 9 has been postponed to August 1, with import tax rates for different countries potentially fluctuating between 10% and 70%. Economies such as Japan, the European Union, and India, which have not yet reached a trade protocol with the beautiful country, still face uncertainties regarding tax rate adjustments, further complicating the direction of the global trade landscape.

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At the same time, the U.S. Treasury bond market has recently seen increased volatility. Those familiar with the situation know that Trump has always adhered to a "borrow as much as possible" attitude towards issuing bonds, and this thinking triggered a chain reaction again in early July—U.S. Treasury yields continued to rise, putting pressure on prices to fall. The core reason behind this is the interplay of uncertainty in tariff policies and the market's expectations for interest rate hikes, with the competition between these two forces leaving bond market investors in a state of watchfulness and adjustment.
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The performance of the US dollar is also worth paying attention to. Affected directly by Trump’s policies, the dollar has been continuously weakening recently, with the underlying logic reflecting a "financier's style": promoting economic growth through an expansion of debt, essentially "robbing Peter to pay Paul," which is more inclined towards short-term capital maneuvering rather than long-term strategic planning. Data shows that the dollar index has recently fallen by nearly 11%, clearly indicating that Trump’s confidence that "global funds must revolve around the dollar" is being challenged — global investors are gradually reducing their reliance on the dollar in asset allocation in the short term, a trend that deserves vigilance.
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Finally, let's return to the most concerning topic for everyone – the cryptocurrency market. These macro-level messages may seem unrelated to the crypto space, but they are actually key variables influencing the volatility of cryptocurrencies. Whether it's the final implementation of tariff policies or the Federal Reserve's subsequent decisions, they could potentially become triggering factors for the market. For traders, in addition to closely monitoring the capital flow of whales and institutions, it's essential to cultivate sensitivity to market movements. Although whales and institutions may not always accurately catch the bottom or top, their actions are often quicker than those of retail investors. What we need to do is filter out genuinely valuable signals from the complex information, lay out our strategies in advance, and implement effective risk management, so we can seize opportunities amidst the volatility.