Bitcoin's short-term pullback won't alter its long-term trend, and policy disruptions are impacting the on-chain value pricing system.
Trump's tariff increases not only impact traditional trade structures but are also likely to impact expectations for US dollar liquidity. Increased risk aversion in the market, a decline in US stocks, and a simultaneous decline in the crypto market have created a typical "capital withdrawal followed by a price correction" pattern.
However, the strength of the crypto market lies in its independent on-chain economic logic: rising miner income, continued growth in stablecoin net inflows, and five consecutive weeks of DEX trading volume increases. Once the fundamentals remain intact and sentiment adjusts, a corrective rebound may be in the cards.
Structural logic always precedes price logic, and the true entry point always comes after pessimism.
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