The short-term benefits have been exhausted, and macro risks are intertwined, triggering widespread panic in the market.

The US stock market was severely hit, dragging down the cryptocurrency market. BTC fell below the $80,000 mark for the second time in three weeks, reaching a low of $76,600, essentially returning to the level seen when Trump won the election last year.

White House cryptocurrency director David Sacks stated on X that President Trump signed an executive order that day to establish a strategic Bitcoin reserve.

For ordinary investors, maintaining financial flexibility and sufficient liquidity may have more long-term strategic value than blindly chasing rebounds.

As market sentiment remains in a state of "extreme fear," despite the significant decline in Bitcoin and Ethereum, there are still no signs of a bottoming out, making the situation suffocating.

Compared to Bitcoin, which is gradually distancing itself from retail investors, the market is more concerned about the two major altcoin leaders, ETH and SOL.

Arbitrage activities across markets driven by tariff concerns have generated significant demand for gold.