Last week, BTC had a weekly amplitude of 15%, ETH contract market liquidations exceeded $2 billion, and the US stock market was swinging wildly up and down.

Most people’s first reaction might be: Is it the Fed causing trouble again? Or is some whale dumping? But if you really think that, you might be missing the true logic behind this round of market moves.

After tracking crypto data for years, I’ve discovered a seriously underestimated variable—the “Tariff Man” in Washington and the $37.85 trillion in national debt behind him (as of October 2025, according to US Treasury data—almost double the 2020 level). This is the core variable shaking up global asset pricing.

On the surface, this trade war targets certain economies, but in essence, it’s a set of fiscal strategies to prolong the life of massive debt. And the opportunity in the crypto market is precisely buried within the workings of this “debt game.”

**The Real Destination of Tariff Revenue**

Don’t be fooled by rhetoric about “trade protection.” From January to September 2025, US tariff revenue reached $386 billion, a year-over-year surge of 42%—with nearly 60% coming from importers in specific regions. This money goes directly into the Treasury’s accounts.

Estimates from the Congressional Budget Office show that this round of tariff policies could fill about $4 trillion of the fiscal gap over a 10-year period...