In its latest market observation, Metrics Ventures points out that global fragility is rapidly accumulating. Since 2022, global supply chain disruptions have continued to worsen, leading to declining economic resilience and weakened policy autonomy in economies such as Japan, South Korea, and Europe. Liquidity depletion is becoming evident, while a strengthening US dollar and changes in treasury yield spreads signal systemic risk accumulation.
In commodities, non-ferrous metals (including gold, silver, and copper) face short-term pressure from macro headwinds but still offer medium- to long-term opportunities. Bitcoin faces two major risks: the selling pressure from MicroStrategy (MSTR) and the need to reassess its asset positioning amid macro turbulence. Overall, market risk appetite is contracting, and investors should remain alert to the impact of liquidity inflection points.