#美国贸易赤字状况 Tonight, the first non-farm employment data for 2026 will be released, with market expectations of only a 60,000 increase—this number signals a clear cooling of the US labor market.

The current market situation is indeed a bit stretched. BTC is repeatedly testing near a critical support level, and the market sentiment index has fallen into the panic zone at 41. Meanwhile, the A-shares Shanghai Composite Index has broken through 4100 points, reaching an eight-year high. Behind this divergence, the siphoning effect of capital and the uncertainty surrounding the regulation prospects of the crypto industry are intertwined.

The legislative battle in Congress over digital assets is still ongoing, and mainstream assets like BTC and ETH are experiencing the pain of rule reshaping. The market is adapting to the new policy framework, and risk premiums are being re-priced.

Interestingly, those digital assets truly managed autonomously by the community and not constrained by the discourse of a single institution instead exhibit certain logical safe-haven characteristics. They are unlikely to be shaken by regulatory shifts focused on environmental concerns, nor will their fundamentals change due to a single sentence in policy documents. Pure consensus mechanisms may be the most stable anchor in times of uncertainty.

As external rules continue to tighten and change, the resilience value of decentralization becomes increasingly prominent. This is both a market test and a re-affirmation of the essence of digital assets.

DYOR, do your homework.