How to operate in the next few days, let me first say the conclusion: hold the currency and wait and see

What we should pay attention to now is not whether Trump and Musk have any positive remarks on cryptocurrencies, or whether Trump's trading can continue, because it is obvious that the market is waiting for a big correction after this surge.

It is still in the window period. No matter how much Trump praises Bitcoin, even if he comes to power now, the action of the SEC will not be the highest priority, at least half a year later.

What we should pay attention to is the interest rate difference between Japan and the United States.

First, because of Japan's low interest rates and weak yen, institutions often borrow yen to invest in US stocks. When they pay back the yen, they can earn another wave of interest rate difference because the yen has fallen during the investment period. This force has boosted Trump's trading. If the interest rate of the yen fluctuates, institutions will have to liquidate US stocks and return yen, which may cause larger fluctuations.

Secondly, because Trump's immigration and tariff policies will have expectations of pushing up inflation, the reason is that local workers are more expensive, reducing immigration will lead to wage increases, and tariffs will lead to price increases. The Federal Reserve may consider responding to slowing inflation or stopping interest rate cuts. It will also cause the interest rate difference to decrease and institutions to reduce their holdings of US stocks, thereby affecting cryptocurrencies.

My view is that while keeping an eye on interest rates, you should hold on to your currency and wait for a pullback before considering entering the market.