Greg Cipolaro, head of global research at New York Digital Investment Group (NYDIG), pointed out in an April 11 report that despite the market panic caused by Trump's global tariff policy, the cryptocurrency market is relatively stable. He mentioned that the cryptocurrency perpetual futures interest rate has been positive, the liquidation volume has surged after Trump's announcement of tariffs, but the total amount is not high, and Bitcoin has far outperformed other assets, and volatility has not reached an all-time high. Greg Cipolaro believes that investors may be increasingly looking for stores of value that are not affected by trade turmoil, and the narrowing gap between bitcoin volatility and other assets makes it more attractive to risk parity strategy funds. He analyzes that investors may be reducing risk exposure, and allocating some assets to bitcoin may be one of the reasons for its solid performance, and the allocation of risk parity funds to bitcoin can help reduce volatility and enhance asset attractiveness, forming a virtuous circle.