The Trump administration recently initiated tariff investigations on industries such as semiconductors and pharmaceuticals, threatening to expand the scope of taxation, leading to increased supply chain risks and heightened market risk aversion.
- The expectation of a short-term exemption from auto tariffs has boosted the demand for risk assets, but policy swings (such as tariff category shifts) have intensified volatility, with Bitcoin fluctuating around $85,000.
- Historical data shows that markets often experience severe fluctuations before the implementation of tariff policies (such as a drop of over 5% in BTC on April 4), so it is necessary to be cautious of sudden news triggering sharp market movements.