This week, the global financial markets showed clear divergence—macro risks and the crypto ecosystem face a major test.

The escalation of trade tensions has driven a risk-off wave. The Trump administration announced new tariffs on 8 countries, putting major European stock indices under pressure and prompting investors to flock to traditional safe-haven assets. Gold broke through the $4,690 mark, and silver surged $94 in a single day, both reaching historic highs.

However, the crypto market displayed a divergent pattern. Bitcoin spot ETFs experienced a net outflow of 1,106 coins in one day, with prices falling below $92,000. In contrast, Ethereum and Solana performed very differently—#美国核心物价涨幅不及市场预估 7 days saw nearly 10,000 ETH inflows, absorbing 350,000 ETH within a week, indicating interesting institutional capital flow trends.

More noteworthy is the change in trading infrastructure. The New York Stock Exchange officially announced the launch of a blockchain-based stock trading platform, aiming to enable 24/7 trading and real-time settlement, breaking the traditional financial market’s weekend closure. This means that blue-chip US stocks like Apple and Tesla will also support round-the-clock trading.

From macro to micro, we see three forces reshaping the financial ecosystem: first, geopolitical tensions boosting demand for safe assets; second, the era of crypto ETFs is reconfiguring capital allocation; third, trading systems themselves are moving closer to blockchain technology. Rules are changing, and so are choices.