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【Global Capital Roundtable Minutes】
Six-party forces debate fiercely on the current market:

1. Geopolitical faction: Gold breaks $4600, the world enters risk-avoidance mode.
2. Crypto giant faction: BitMine invests $340 million to increase ETH holdings, becoming the largest corporate holder, truly betting on the future with real money.
3. Macro funds faction: Asian funds are leading BTC trends, waiting for US-based funds to enter and trigger a qualitative change.
4. Microstructure faction: Tokens like TRUMP, ONDO, ARB face concentrated unlocking, short-term selling pressure confirmed.
5. Regulatory system faction: Federal Reserve Chair Powell faces criminal investigation, the credibility cornerstone of the old system is shaken.

【Assessment of various chips】

- Geopolitical faction: Holding red fact chips (gold breaks key level), representing a systemic decline in global risk appetite.
- Crypto giant faction: Holding blue action chips ($340 million on-chain bet), the most solid bullish card currently.
- Macro funds faction: Holding golden observation chips (tidal funds model), providing a key analytical framework.
- Microstructure faction: Holding black clock chips (certain unlocking selling pressure), the highest priority risk avoidance.
- Regulatory system faction: Holding gray nuclear bomb chips (credibility anchor impacted), the biggest long-term option variable.

【Mid-term meeting judgment】

Multiple forces hold the hardest action chips (B), with a clear phase model (C), but are currently under triple encirclement:

1. Global risk-avoidance sentiment suppression (A)
2. Internal certainty selling pressure (D)
3. Old system credit shock (E&F) Conclusion: Currently a positive encounter between “crypto endogenous value” and “global macro headwinds + internal structural risks.” Investors should be observers, not warriors.

【Observer action rules】

1. Keep a close eye on action chips: Use BitMine’s holdings movements as the North Star for judging “long-term confidence in crypto native capital.”
2. Use analytical models to avoid certain risks: Understand market stages with the “Asia/US region funds” model; for large unlock targets like TRUMP, ONDO, ARB this week, follow the “no building under dangerous walls” principle.
3. Assess the environment, manage exposure: Acknowledge the global risk-avoidance tone, reduce total positions and expectations; treat “Powell investigation” as a long-term variable that could change the rules, avoid over-trading related narratives before clarity.

Summary: Follow the giants, watch the phases, avoid risks, lower expectations. In complex games, survival and clarity are prerequisites for participating in the next stage.

I am Eudora Qi.

What I deliver is a【International Political Economy Analysis Framework】for positioning all parties, assessing weights, and making independent decisions in global debates.

Click to follow, tomorrow will hold a special seminar on “Asia Funds Leading,” with in-depth tracking of their on-chain footprints and behavior patterns.

May you gain insights into the pattern at every global meeting. See you tomorrow.