#数字资产动态追踪 The global debt storm is escalating again! Wall Street is falling into collective anxiety—JPMorgan CEO recently issued a warning, calling the current situation the "most dangerous moment in decades." U.S. debt has ballooned to $38.5 trillion and continues to expand at a frantic pace, with an additional $20 trillion expected over the next ten years. Even more alarming is interest expenditure, which has surged in just three years to levels higher than the previous 50 years combined. What does this number reflect? The wealthy are retreating, and 67% of Americans are already living paycheck to paycheck—society is becoming increasingly divided.

The key question is: how much longer can the dollar's creditworthiness last? Central banks around the world have begun accelerating the sale of U.S. Treasuries, and industry estimates suggest that in the next few years, $30 trillion of international capital may flow out of the U.S. market. The foundation of dollar hegemony is shaking.

Against this backdrop, the crypto market's movements are particularly noteworthy. By the end of 2025, the cryptocurrency index surged over 8% in a single month, with institutional investors leveraging Bitcoin's "digital gold" status to aggressively position themselves. Standard Chartered even predicted Bitcoin could reach $200,000. Capital is seeking safe-haven exits, and crypto assets are becoming an important tool for global risk hedging.

Of course, risks are also brewing: currently, 80% of reserves in stablecoins are allocated in U.S. Treasuries, totaling $240 billion. If a sell-off of Treasuries triggers a bank run, the shock could ripple into the crypto sector. But from another perspective, the "de-dollarization" wave driven by the debt crisis actually strengthens BTC and ETH as hedging assets. Funds flowing out of Treasuries and U.S. stocks may increasingly move into crypto markets.

So the question becomes: can this debt storm push BTC to new highs? What do you think— is the crypto market a safe haven for global capital, or a hidden high-risk vortex?