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Asset Divergence Under the Warning of Dollar Collapse: Gold Hits Record High, Bitcoin Falls Back to the Starting Point
When Ray Dalio declares that "the era of the US dollar as the reserve currency is collapsing," and when Trump's tariff hammer strikes globally once again, the global asset markets are experiencing an extreme divergence. On one side, gold prices are soaring amid the risk-averse sentiment, with London gold surpassing a historic high of $4,870.7 per ounce, and silver rising nearly 5% in tandem; on the other side, Bitcoin plummeted from $96,000 to below $90,000 within minutes, alm

The Major Restructuring of the Crypto Derivatives Market: Classic Arbitrage Strategies Fail, CME Being Surpassed Signals Deep Market Shifts
The cryptocurrency derivatives market is undergoing an unprecedented structural transformation. Once regarded by Wall Street institutions as a "risk-free printing press," Bitcoin Cash and arbitrage trading have now lost their shine, with arbitrage opportunities compressed to levels rarely seen in recent years; the open interest in CME Bitcoin futures has been surpassed by Binance for the first time since 2023. This landmark change not only marks the end of