Stocks and bonds both hit, BTC hit 76K, Arthur Hayes starts to buy the dips: RMB depreciation will help BTC

Here's the English translation: This year's volatile market is truly nerve-wracking. The S&P 500 index rose 4% in early trading but closed down 1.57% after the White House announced plans to impose tariffs on China. The bond market also experienced significant volatility, with 30-year Treasury yields surging, marking the largest two-day increase in five years, with 10-year Treasury yields recovering to around 4.3%. Bitcoin dropped from last night's high of $80,000, trading at $76,654 before this report, with Arthur Hayes already starting to buy the dips and stating that the depreciation of the renminbi will help BTC. The VIX panic is spreading, with stocks and bonds both under pressure. As signs emerged that Trump was willing to engage in trade negotiations, the S&P 500 initially rose 4%, marking its largest increase since 2022. However, it fell again after the White House indicated continued retaliatory measures against China. The market panic index VIX rose sharply, closing at its highest level since the pandemic outbreak. U.S. Treasury yields dramatically dropped again after Monday's dizzying surge, with 30-year Treasury yields spiking in late trading and marking the largest two-day increase in five years due to weak debt auctions raising concerns about buyer withdrawal among overseas investors. In the foreign exchange market, speculators rushed to buy Japanese yen and Swiss francs, both considered safe-haven currencies during crises. Gold bull Peter Schiff stated: "If Trump's secret agenda is to crash the stock market to bring down long-term interest rates, the plan already failed. The yield on the 30-year Treasury is now above 4.75%, its highest since February 19th. So the plan to crash the stock market is now crashing the bond market too." Bitcoin dropped from last night's high of $80,000, trading at $76,654, with a clear long-term head and shoulders pattern. Short-term support remains at the $70,000 level amid ongoing market uncertainty. This represents about a double retest of the neckline after falling from January's high of $109,588. BitMEX founder Arthur Hayes, who has always been bullish on Bitcoin, began buying the dips yesterday. He noted at the end of March that his custom U.S. bank credit supply index has started to rise, which he sees as a positive sign, though not necessarily indicating a complete selloff. Yesterday, as the renminbi depreciated, he again expressed optimism, believing that the People's Bank of China's allowing the renminbi to weaken would trigger capital flight into Bitcoin, urging everyone not to underestimate China's importance. Risk Warning: Cryptocurrency investments carry high risk, with potentially extreme price volatility. You may lose your entire principal. Please carefully assess the risks.