The market has fallen into an unprecedented dilemma. The key economic data that the Federal Reserve relies on suddenly disappears—what does this directly lead to? The market has lost its唯一指南针 for judging the direction of monetary policy. The decision-making system that originally relied on data has been completely disrupted, and the Federal Reserve itself has started to "drive blindfolded." This intense uncertainty has caused the stock and bond markets to lose their sense of direction, with funds becoming anxious and frantic, desperately searching for new "pricing references." History tells us that whenever such a data vacuum occurs, any slight movement will be amplified infinitely. A slight dip in ADP employment data is enough to ignite the entire market’s rate cut fantasies, Bitcoin then surges rapidly, and leveraged positions are massively liquidated—this is not the first time. The market has become so fragile that it’s like a pile of dry wood; just a tiny spark can trigger a chain reaction. The cryptocurrency market at this time becomes a double-edged sword. The good news is: the uncertainty in traditional markets may actually boost the enthusiasm in the crypto space. To avoid the quagmire of stocks and bonds, funds will temporarily flow into the crypto market in search of new stories. The 24/7 trading and the fact that cryptocurrencies are not limited by traditional market hours become natural advantages. Under similar conditions last year, Bitcoin surged 15% in just one week, which is the best proof of this logic. But the bad news is equally obvious: this influx of funds is often short-term and unsustainable, lacking genuine fundamental support. The market essentially becomes a pure "emotion game"—who is more mentally stable wins. Volatility will spike sharply, and leverage trading will turn into a meat grinder.