ChainCatcher news, Wintermute trader Jake O stated on social media that the cryptocurrency market can no longer trade in isolation and is currently in a macro-driven market environment.Jake O pointed out that this trend has repeatedly appeared throughout the market cycle, although it is not persistent, especially when the market fear index (VIX) is above 20. In this market environment, investors should pay extra attention to U.S. economic data and the dominant narratives in the market—currently mainly focused on tariff issues, which will drive marginal capital flows.