U.S. debt has become a ticking time bomb. The $37 trillion U.S. Treasury debt is becoming increasingly burdensome in a high-interest-rate environment. Trump's proposed "Centennial Zero-Coupon Bond" plan is essentially inflation transfer—non-cooperation will lead to financial sanctions. This is no longer an economic game but a naked power restructuring.

Global central banks are quietly turning away. Although Japan holds $1.1 trillion in U.S. debt, any buying or selling would harm itself, and it has already fallen into a passive position. Meanwhile, China's gold reserves have surpassed 74 million ounces, and U.S. debt holdings have fallen below $700 billion—this is a silent asset transfer.

De-dollarization is no longer just a slogan but is rapidly advancing through concrete actions. Saudi Arabia has started settling oil exports in RMB, Southeast Asian countries are collectively shifting to local currency settlement frameworks, and emerging markets are swiftly adjusting their foreign exchange reserve structures. The dollar's monopoly as the global reserve currency is being eroded.

What does this mean for the crypto ecosystem? As the credit foundation of the traditional financial system begins to loosen, capital will seek new safe-haven tools. Bitcoin, once called "digital gold," is about to turn this metaphor into a real demand. It is no longer a speculative concept but a necessary asset allocation option.

Against the backdrop of the restructuring of the U.S. debt system and the reshaping of the global monetary order, censorship-resistant, supply-fixed crypto assets are shifting from risk assets to strategic assets. This is not alarmist but an inevitable result of geopolitical changes. The current market rebound may just be the beginning.