Sure enough, it’s still TACO. Trump’s 20% Hormuz tax made me feel really weird—it’s like putting America on the grill. But in just 18 hours, Trump TACO’d it. This might be a new record for how quickly Trump TACO’d something. Sometimes I wonder if the tough stance comes directly from Trump himself, without any input from his PR team. Then the PR team probably roasted him, and he had to walk it back. Although the 20% issue has been TACO’d, the conflict between Iran and the U.S. is far from resolved. Iran is still blocking the Strait of Hormuz, and the U.S. has reimposed a blockade on Iranian ports. We’re back to a stalemate, but I don’t think this situation will last long. If it does, it might escalate into full-scale warfare instead of these probing attacks. Not sure if a resolution will happen this week, but for Trump, the newly released CPI data has given him some confidence. At this point, rising oil prices are directly opposing him. Time is running out for Walsh, and there’s not much time left before the midterm elections either. The positive CPI data and Trump’s TACO have boosted risk markets. U.S. stocks and Bitcoin have rebounded nicely. Today, I also shared my “carving a boat to seek a sword” take on the midterm elections. With less than four months to go, if this boat doesn’t capsize, Bitcoin should have a decent chance to rally after the midterms. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all-in-one trading platform.