#数字资产市场观察 Trump just dropped a bombshell on Truth Social - announcing an indefinite halt on immigration from "third world countries", while cutting off all federal benefits for non-citizens. If this policy is implemented, the structure of the American workforce and the rhythm of the economy will have to be reshuffled.

Meanwhile, the data coming from the New York Fed is even more alarming: the credit card charge-off rate has skyrocketed to 24.8%, the highest level since 2014. The pressure on ordinary consumers is evident. But strangely, the US stock market is soaring, with the S&P 500 index rising for four consecutive days, and the cumulative increase this year has already surpassed 15.8%.

What does this fragmentation mean for the cryptocurrency market?

Thinking deeper, strict immigration policies could indeed hinder economic growth. Coupled with the consumer fatigue revealed by credit card data, the appeal of traditional markets may be discounted. Once signals of economic weakness become more apparent, market expectations for the Federal Reserve to maintain a loose monetary policy will rise. Additionally, some analysts believe that the weak dollar cycle is still ongoing, and global liquidity is shifting towards easing. These combined factors could actually be a potential benefit for crypto assets.

However, in the short term, the strong performance of the US stock market will indeed divert a lot of funds. After all, with the S&P 500 rising like this, many institutions and retail investors cannot turn a blind eye to it.

So what should we do now?

Don't rush to place heavy bets. There is still a long fermentation period from the release of policies to their actual implementation, so blindly chasing gains and cutting losses now is meaningless. Keep a close eye on developments from Washington, and see the subsequent economic data and policy responses. At the same time, manage your positions well, don't exhaust all your bullets, and wait for the market trend to become clearer before taking action. In addition, the transmission effect of U.S. stock trends and Federal Reserve policy movements on the cryptocurrency market should also be closely monitored.

When the waves are high, fish can indeed be expensive, but don't jump in at the peak of the wave.

Do you think this operation is a short-term bearish signal or a medium-term bullish signal for the crypto market? Feel free to share your judgment.