The full text of "Binance Research Institute: In Depth Analysis of the Tariff War: Re establishing Bitcoin's Independent Macro Identity?" In the face of the escalating tariff war and the global market's adaptation to the long-term fragmentation of trade, whether Bitcoin can once again be seen as a "non sovereign, permissionless" safe haven asset will determine its future macro role. Market participants will closely observe whether BTC can retain this independent value proposition. One potential path is to regain its attractiveness during periods of currency inflation and fiat currency depreciation, especially when the Federal Reserve turns to easing. If the Federal Reserve begins to cut interest rates while inflation remains high, Bitcoin may regain favor and be seen as a "hard asset" or anti inflation asset https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=47&id=41132