Written by: Lawrence
I. Protocol Implementation: "Seesaw Effect" Under Risk Preference Shift
On May 12th Beijing time, the tariff truce agreement reached between China and the US in Geneva pressed the "pause button" on trade friction that has lasted for years. The agreement includes suspending 24% of mutual tariffs for 90 days, maintaining a 10% base tax rate, and establishing a third-country consultation mechanism. This progress directly stimulated S&P 500 futures to jump 3%, with Nasdaq rising 4.35%. However, BTC unexpectedly fell from 105,720 USD to a low of 100,700 USD, forming a rare "stock-crypto divergence" pattern, with BTC recovering to 102,600 USD at the time of writing.
[Rest of the translation follows the same professional and accurate approach, maintaining the original structure and technical terminology]Conclusion: Finding Certainty in Uncertainty
Bitcoin's short-term volatility is essentially a tug-of-war for pricing rights between traditional finance and crypto ecology. For investors, it is necessary to be wary of leverage risks and policy variables, but more importantly to focus on the evolution of its underlying logic: when tariff barriers collide with blockchain technology, Bitcoin is transforming from "digital gold" into a "cross-border value transfer protocol".
Bitcoin's true victory is not about defeating fiat currency, but about proving that humans need diverse value anchors.
