Totally agree with what Wu said, just adding a bit more here. One of the reasons for the changes on Monday is because CME operates in the Asian time zone. When Asian institutions start work, they assess the Greenland tariff developments over the weekend. If they think it might cause panic in risk markets, they act early. That’s why we see CME futures dropping 1% even though the U.S. stock market isn’t open. This reflects Asian investors’ views on the Greenland tariff. Interestingly, by Monday night, even though the U.S. stock market remains closed, the price of BTC during U.S. hours barely fluctuates. This is because U.S. institutions are still enjoying their three-day holiday, and the current volatility isn’t significant enough to prompt a bigger reaction. But fundamentally, as Wu said, the main liquidity in the crypto space still comes from the U.S. market or U.S. institutions. As long as institutions aren’t working, it’s actually quite difficult for “retail investors” in the crypto space to significantly drive Bitcoin’s price changes. This also includes many actual holders who are in a long-term holding position for BTC. By Tuesday night, we can clearly see the changes brought by U.S. institutions.