The recent market rally has truly turned the crypto world upside down. As soon as the Trump tariff case emerged, the market staged the most surreal scene: institutions are cutting positions, while retail investors are actually smiling. Traditional safe-haven funds saw a single-day net inflow of over $1 billion into Bitcoin, hitting a new high for the year, while the institutional long-short ratio plummeted to 0.7. Short positions are being squeezed hard, and retail holdings are actually increasing against the trend by 15%.

But the game rules behind this have changed. The uncertainty in US politics has completely rewritten the narrative around crypto assets. Bitcoin is no longer just a pure digital asset; it has now become a new bargaining chip in US political games. The traditional safe-haven triangle—gold and the dollar—are loosening their correlation, while Bitcoin’s status as a "digital alternative" continues to rise.

In this environment, truly smart players should play it like this:

**First, forget about the "US-China linkage" narrative and keep your eyes fixed on the Federal Reserve.** Expectations of a Fed rate cut in 2026 are already in place, and Bitcoin is most sensitive to liquidity changes. When policies shift, the market follows—this is a certainty.

**Second, keep your layout stable and don’t get dazzled by structural opportunities during institutional panic periods.** The hype around altcoins is full of traps; don’t be led by gimmicks like "300% excess returns."

**Finally, beware of projects that hype "censorship resistance" as a concept.** Some projects use this as a cover for hidden risks. Market volatility isn’t a bad thing; what’s truly harmful is mistaking noise for signals.