Trump's "TACO" reappears: BTC and ETH's roller coaster

Trump has taken action again, and the crypto market is once again fluctuating.

The market in the past few days can be summarized as a "Trump-style script": first a scare, then a concession, followed by a rebound.
Vice President Vance's statement that "Trump is willing to negotiate rationally with China" immediately brightened the market. BTC once surged over 2%, while ETH skyrocketed by 7%. This trend perfectly illustrates the "TACO" trade referred to on Wall Street — Trump Always Chickens Out.

The meaning is very simple:
Trump always takes the toughest stance first, forcing opponents to express their positions and causing market panic;
Then take a step back to gain negotiation leverage and a recovery market after the price correction.

This is not the first time, and it will not be the last time.
From the tariff threats in April, to the copper tax exemptions, and now the changing tones in the China-US negotiations, the market has gradually seen through this logic—every time there is "maximum pressure," it eventually turns into a "negotiation show."

This time, the market's reaction has clearly become much calmer.
The past sharp decline immediately created buying opportunities, but now it is more about a震荡消化.
What does it mean? It means that investors are beginning to become immune to Trump's "tariff thunder."
No matter how loud the political rhetoric is, it cannot conceal the calmness of the market.

From a macro perspective, this repeated policy oscillation will make the market's short-term fluctuations more frequent.
Cryptographic assets often become the first sector to respond due to strong liquidity and 24-hour trading.
Every time Trump speaks, it not only stirs the stock, forex, and bond markets but also becomes the trigger point for the emotions of BTC and ETH.

In simple terms —
Trump's toughness is the "storm source" of the market;
But every time I look back, it becomes the "fuse" for a rebound.
The market and he are opposing players in a game, and also catalysts for each other.

So, this "TACO" show is far from over.
In the coming weeks, as long as Trump continues to "make harsh statements first and then back down," the volatility will continue.
This is also the norm in the crypto market - forever oscillating between politics and expectations.

In summary:
Trump's words are the real barometer of this market trend.