Our previous research note, "Technical Reversal & Tariff Risks: Why We've Adopted Defensive Positioning," published Friday, highlighted the increasing risks associated with Trump's aggressive trade stance and potential technical weakness in the market.
At the time of that note, Bitcoin was trading above $87,000. Today, Bitcoin has fallen to under $82,000, demonstrating a significant market correction driven by the very tariff concerns we identified. This rapid decline validates our call for a defensive positioning to navigate the anticipated near-term volatility.