In a sense, Trump is dragging the global capital market into a scripted cycle of uncertainty: constantly creating suspense, breaking existing rules, and forcing all participants to live in a game structure of "change as you say next". The biggest problem with the US stock market today is not the lack of earning opportunities, but the absence of certain assets that can be held with peace of mind. The cryptocurrency industry is even worse, as this round already lacks wealth creation effects and new narratives. In addition, in this environment, uncertainty itself has become the core risk factor of the market. The consequences of liquidity depletion are beginning to manifest, and OM is an example.