In recent years, major economies around the world have responded to the downward economic pressure after the epidemic through loose monetary policies, and China has also been rumored to be able to "print" 1 trillion yuan to save the market. Although the People's Bank of China has not explicitly taken "large-scale water release" measures, the market has strong expectations for an increase in money supply. Globally, interest rate cuts and monetary easing policies have triggered the risks of debt expansion, inflation concerns, and asset price bubbles. At the same time, the cryptocurrency market has risen rapidly against this background, and investors regard it as a safe-haven asset against the depreciation of legal currencies, especially Bitcoin, which is known as "digital gold" due to its fixed supply. The development of decentralized finance (DeFi) and the influx of institutional funds have further driven the rise of cryptocurrencies. However, with the turmoil in the global financial system, the game between the traditional economy and crypto assets will intensify.