Trump changes his stance again, delaying the suspension period from 5 days to 10 days. Note that April 6th is the focus! Geopolitical risks are not cooling down but are being delayed in pricing. Uncertainty in oil prices and war keeps easing expectations out of the pricing system! Capital is reluctant to exit but also unwilling to take directional risks, leading to prices repeatedly clearing in liquidity-dense zones. A true breakout trend requires a consistent change in the three macro variables, not just one factor driving it! Recently, Trump's calls seem powerless; the Fed's rate cut has been delayed. Don't even mention rate cuts—if this situation continues, and geopolitical risks remain unresolved for a long time, originally the blockage of the Strait of Hormuz already affected oil prices. If the Bab el-Mandeb Strait is also blocked, even if Wosh takes office tomorrow, he won't be able to cut rates. Oil prices are becoming crazy high. If diesel continues to rise, forget about rate cuts—it's time to consider rate hikes. #加密市场回调