The viewpoint given on March 20th was that going long on the US dollar index and short on gold and BTC were the preferred options. At that time, I saw the strategy offered by the US Treasury! I just saw Japanese bonds and would like to talk about their impact: The US dollar index: In the short term, it is suppressed by the appreciation of the Japanese yen. If global risk aversion rises, it will first fall and then rise, and in the medium term, it will be strong. Gold: In the short term, due to geopolitical hedging and strong fluctuations in Japanese bond risks, if the crisis escalates, it will be bullish in the long term. Bitcoin: As a high-risk asset, it is under pressure to decline in the short term. If concerns about fiat currency credit intensify, there will be an upward trend in the medium term. US stock market: Short term significant pressure and decline (growth stocks are more affected), gradually returning to fundamental repair in the long term. This post focuses on macro perspectives and does not cover technical aspects. It is for reference only and not intended as investment advice. JGB DXY XAAmericaD BTC SPX500 MacroEconomics TradingStrategy