PANews reported on April 8 that according to the latest report released by Binance Research Institute, since Trump returned to the White House and significantly increased import tariffs, the weighted tariff rate in the United States has soared to a nearly 100-year high, and global trade tensions have significantly intensified. The crypto market has fluctuated violently, with BTC falling more than 19% from its high at the beginning of the year and ETH falling more than 40%. The total market value has shrunk by nearly $1 trillion, and safe-haven funds have poured into gold and bonds.

The study pointed out that the continued trade friction and stagflation risks have put the Federal Reserve in a policy dilemma, and the market has begun to expect multiple interest rate cuts this year. In the short term, Bitcoin's rising linkage with the stock market and its negative correlation with gold show its "risk asset" attributes, but in the long run, if inflation continues to be high and interest rates fall, Bitcoin may once again become an investment option for "anti-inflation hard assets."

The report concludes that the crypto market may remain volatile and highly sensitive in the short term, while the long-term outlook depends on the evolution of the global macro environment, the Federal Reserve’s policy path, and whether the crypto industry can regain its independent narrative and asset positioning.