According to Golden Finance, Coindesk analysts pointed out that Wall Street's famous "panic index" - the U.S. stock volatility index (VIX), soared to 39 after the escalation of Sino-US trade tensions, the highest level since October 2020. Traders raised expectations for the Federal Reserve's interest rate cut this year due to China's retaliatory tariffs on U.S. goods. The CME FedWatch tool shows that the market expects the rate cut within the year to rise from the previous 100 basis points to 116 basis points. The Deribit platform DVOL index shows that Bitcoin’s 30-day implied volatility rose to 54.6%, a two-week high.