#行情震荡，做空还是做多？# In today's crypto market, the rise and fall are mainly driven by Trump's statements. After a 90-day delay on tariffs, news emerged a couple of days ago about a collapse of the tariff system, and he announced a temporary exemption of "reciprocal tariffs" on certain products. As soon as this news broke, crypto assets immediately surged. However, yesterday during after-hours trading, news was released stating that the exemption on tariffs is only temporary, and the crypto market was instantly affected by this news, leading to increased selling pressure and a retreat for risk aversion. It is expected that in the coming period, all financial markets will enter a phase of emotional recovery. Market traders need to take a breather; in the current state, the absence of favorable information is equivalent to unfavorable information—only the emergence of favorable news can push the market out of the gloom and start the recovery process. On the operational level, close attention must be paid to the dynamic changes in the macro situation and news developments. Currently, the crypto world shows a high correlation with the US stock market.