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Cryptographic assets exhibit significant "polar" characteristics amidst the macroeconomic tailwinds and their own high volatility.

In addition to Trump's issuance of cryptocurrency, the crypto community is also continuously monitoring the extent to which his policies are being implemented.

This month, the price of Bitcoin has shown a "roller coaster" trend, largely driven by emotions, while the long-term trend represented by Bitcoin spot ETFs remains unchanged.

In June, the CPI in the U.S. diverged from non-farm data, leading the market to be unable to reach a consensus on the number of interest rate cuts, resulting in a "wait-and-see" approach. Nvidia's market value once soared to the top in the world, becoming a pride of the AI era. However, the U.S. stock market is severely polarized, with high price-to-earnings ratios and bubbles becoming apparent. The cryptocurrency market experienced an inexplicable decline this month, with selling pressure from old OGs and miners possibly being the direct cause of the drop, also providing new investment opportunities for the future.

The passage of the U.S. cryptocurrency bill may be a milestone, although various interest groups will inevitably pull in different directions afterward, the statements generated by these pulls are undoubtedly noise.

The economic fundamentals in the United States are slightly below expectations, but due to the continuous appreciation of the dollar, international capital will be more inclined to favor dollar-denominated assets. After the market digests the negative impact of the fundamentals, there is still a significant possibility that international capital will flow back into U.S. stocks.