Merkle3s Weekly Update 📊 02/04 1️⃣ Macroeconomics and Risk Appetite ➡️ From the risk of a government shutdown to the nomination of a Fed candidate, #BTC has suffered two consecutive shocks: first, the release of panic, then the amplification of the Fed nomination leading to a second round of suppression. ➡️ Precious metals also experienced rare two-way fluctuations: first rising due to panic, then quickly retreating under the narrative of a stronger dollar. ➡️ The rebound in inflation data has become a potential time bomb; some believe the market may still face a deeper decline or a longer period of sideways consolidation. 2️⃣ Fund Flows and ETF Direction ➡️ After the release of panic, $BTC saw a round of fund inflows, but $ETH continued to see outflows. ➡️ The fund structure shows a "safe haven before selection" characteristic, with a short-term bias towards defense rather than a full return to risk. 3️⃣ On-Chain Hot Topics and Narrative Shift ➡️ On-chain funds have shown a clear migration: after the controversy between CZ and OKX, #BNB and Chinese #Memes... Collective Cooling Down ➡️ #Base absorbed some of the #BNB spillover funds, mainly flowing into #ClawdBot/#MoltBot/#OpenClaw related #AI narratives, and driving up the AI-related coin $CLANKER, thus reaping a wave of AI hype. 4️⃣ OpenClaw Ecosystem Short-Term Explosion and Pullback ➡️ The OpenClaw Agent-dedicated forum #Moltbook experienced a surge in popularity, pushing $MOLT's market capitalization past $100 million. ➡️ Subsequently, a market crash led to a "rapid pullback in the hype," while Moltbook's outage and exposure of spam messages exacerbated negative sentiment and a loss of trust.