As traders, volatility is the opportunity. Whether the market is rising or falling, the key is to avoid being stagnant. The current issue at hand is that macro-level uncertainties are increasing.

First, let's talk about the personnel upheaval at the Federal Reserve. On January 16, Trump expressed hope that Kevin Hasset, the director of the National Economic Council, would remain in his position during an event at the White House. This statement sent a signal to the market — Hasset, who was widely considered a likely successor to current Fed Chair Powell (who will step down in May), saw his chances of promotion sharply decline. Hasset, known as an extreme dove, has been advocating for aggressive and rapid rate cuts, which was initially good news for the crypto world. But now the script has flipped, and the new frontrunner is hawkish Kevin Waugh. What does a hawkish leadership mean? The possibility of tightening policy has risen again.

The trade war card is also being played more aggressively. Also on the 16th, during a healthcare roundtable, Trump hinted at the possibility of imposing tariffs on countries that do not support the acquisition of Greenland. Using tariffs as a geopolitical bargaining chip will worsen relations with European and American allies, decrease global economic certainty, and increase the pressure to sell off risk assets — a chain reaction.

There is also the U.S. advancing the "Digital Asset Market Clarity Act." While legislation is moving forward, the strict compliance requirements and high costs involved mean the market must prepare for major changes.