Today, just as I was about to start my homework, I saw the news about Trump's countermeasures. It’s no wonder people say Trump is smart; this countermeasure was announced less than 25 minutes before the U.S. stock market closed. Although the U.S. stock market did experience a drop in direct response, it seems that Trump did not counter immediately. Instead, he often waits until the U.S. market is about to close, which could lead to a TACO situation. Especially this time, it seems that Trump’s countermeasure did not specify a timeline and only provided an example.

In simpler terms, this countermeasure is not something concrete. Of course, if this is all there is to the countermeasure, Trump also mentioned China during the earlier interview. He said, “We must remain vigilant towards China. I have a good relationship with Xi Jinping, but it can sometimes become tense. I think the relationship with China will be fine.” So overall, it appears that Trump still does not want to escalate tensions with China too much. We will have to wait and see how China responds during the day.

From the current situation, the U.S. stock market has dropped nearly 1%, while the cryptocurrency market has not shown much movement. I’m not sure if it’s because the market dropped too much on the 11th, leading to current expectations regarding U.S.-China relations, or if the leverage for $BTC and $ETH has been mostly exhausted, meaning that even if there are fluctuations, they won’t be significant.

Looking at Bitcoin's data, today’s turnover rate is indeed quite high. I’m not sure if this is a reaction to the tariffs, especially since investors who were in the red have significantly reduced their holdings, possibly fearing that the tariff war could lead to a major downturn like in April. However, it seems to be holding up well for now, as BTC’s fluctuations are not too large.

From the URPD data, things also look relatively stable. Although there has been an exit of loss-making investors, the overall distribution remains stable without any obvious gaps. Let’s wait and see if there will be further statements from China during the day on Wednesday.

This article is sponsored by #Bitget ｜ @Bitget_zh

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