The global financial landscape is currently characterized by profound uncertainty, largely driven by the recent implementation and subsequent partial adjustments of US tariff policies. This has triggered significant volatility across traditional asset classes, marked by sharp equity market downturns followed by fragile rebounds, a powerful rally in gold to new all-time highs, and erratic movements in the US dollar. The imposition of these tariffs, some reaching 50% on goods from 57 nations and pushing average duties on Chinese products to 54% , followed by a sudden 90-day pause for certain items like technology goods , has created an environment of extreme policy unpredictability. Against this turbulent backdrop, the cryptocurrency market, while demonstrating moments of resilience, remains under considerable pressure. Sentiment indicators, such as the Crypto Fear & Greed Index, linger in "Fear" territory (around 27-31) , reflecting broad investor caution, although social media channels saw a brief surge in optimism following news of temporary tariff exemptions. Crypto-specific data presents a mixed picture: on-chain metrics reveal potential selling pressure for Ethereum, with exchange reserves increasing , contrasting with signs of easing outflows from US Bitcoin spot ETFs, which saw outflows slow dramatically after a week of heavy withdrawals. Stablecoin supplies have experienced minor contractions in the very short term (last 24 hours) , suggesting a pause in capital inflows despite strong medium-term growth that pushed total stablecoin market cap to a two-year high. The market continues to digest the fallout from the significant $1.5 billion Bybit exchange hack, attributed to North Korea's Lazarus Group , adding another layer of complexity, particularly for Ethereum, which bore the brunt of the theft. Key upcoming events, including regulatory deadlines like the SEC vs. Ripple appeal report and protocol upgrades such as Stacks' Nakamoto upgrade , offer potential catalysts but may struggle to counteract the prevailing macroeconomic headwinds indicated by soaring gold prices and elevated equity market volatility. The short-term outlook for the crypto market is therefore highly contingent on the evolution of global trade narratives, upcoming signals from central banks (like Fed Governor Waller's upcoming speech ), and the behavior of institutional flows via ETFs.