Macro Fragility and Systemic Risk Accumulation
Since 2022, global supply chain disruptions have intensified, significantly reducing the economic resilience and policy autonomy of major economies including Japan, South Korea, and Europe. Liquidity is visibly drying up, while the US dollar continues to strengthen. Concurrently, changes in Treasury yield spreads indicate that systemic risk is accumulating at a faster pace than anticipated. According to Metrics Ventures' market observation, the fragility of global markets is escalating rapidly, and investors should remain vigilant for potential systemic shocks.
Market Sectors and Bitcoin Positioning
The non-ferrous metals sector (gold, silver, copper, etc.) faces short-term macro headwinds but retains structural opportunities over the medium to long term. For Bitcoin, the divestment risk from MicroStrategy (MSTR), coupled with macro turmoil, has amplified price volatility. Its positioning as either a risk asset or a safe haven must be reassessed. In the current environment, Bitcoin's correlation with traditional risk assets has strengthened, making macro uncertainty the dominant driver.