On the last day of March, the expectations for the first quarter were indeed not as expected. The biggest mistake was the misjudgment of tariffs, which led to many previously planned actions not being taken, resulting in an awkward situation. However, despite the increasing difficulty starting in April, we still maintained our respect for the market. In fact, today is a good example. At six o'clock in the morning, there was a message reminding me that the stock index futures of the U.S. stock market opened low, and then it was a low trend until the opening of the U.S. stock market. American investors chose to avoid risks in advance for the probability of rising inflation and economic recession caused by tariffs. Bitcoin had also taken this path, which almost fell below $81000 before 18 o'clock Beijing time. But with a message about 18 o'clock, the Trump family officially entered the mining field of BTC, which raised market sentiment a little. The price of BTC has also increased, as BTC is still a slightly niche market, not in terms of market value, but in terms of liquidity. When long-term holders resume fundraising, the emotions of short-term investors can change the trend of BTC prices, which is why I think the difficulty will increase from April onwards. Now it is an event driven market, and there are significant differences between events in the US stock market and cryptocurrency events. However, the overall direction is consistent, and more importantly, whether the driven events will bring about changes in liquidity. If they do, it may be a reversal, and if not, it may still be a rebound. The Trump family's mining incident did not bring about a reversal of the incident. At most, it was a rebound. More importantly, it depends on the tariff policy after April 3, Beijing time. Whether it is the wielding of the stick or the result of the smashing. Although the White House has released a lot of news, if it is a Democratic Party, I may believe it, but now it is not only a Republican Party, but also a fickle Trump. Whether the information released by the White House will really happen, it is really bad to say. The April pit is not just about tariffs, tariffs affect inflation, inflation affects interest rate cuts, and the expectation of interest rate cuts is not immediate. Therefore, the impact of tariffs is not immediate, but more about investors' expected emotions. However, the GDP data released in the middle of the month will immediately affect investors' emotions. Currently, many analysis institutions in the United States have begun to increase the probability of an economic recession in 2025, and the difficulty of this market is still increasing. Looking back at the data of Bitcoin itself, although the price fluctuations have not attracted much attention from investors, short-term investors are still the main ones who change hands, and long-term investors remain indifferent. However, after all, there has not been any actual negative impact on the market yet, and most investors are still keeping a wait-and-see attitude. For the time being, investors from $93000 to $98000 have not left the market significantly, so there is not much pressure on the current price. The bottom of $83000 is still trying to be built. By the time the US stock market closed, NASDAQ and S&P had rebounded significantly, and they have recovered, while Bitcoin has also revised back to Trump's mining price. We still need to pay attention to the relationship between rebound and reversal. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex