The recent scandal of falsified economic data has gone viral again, and this time many people are starting to ponder a question: When official statistics can no longer be trusted, how much of the credit foundation of the TradFi system is left?

Taking the United States as an example, key indicators such as unemployment rates and inflation data are often used to guide policy direction. However, once the data becomes distorted, market expectations can be distorted, leading to chaotic capital flows. This uncertainty spreads and causes investors to reassess their asset allocation strategies.

Throughout history, every time there has been a significant shift in economic policy or a credit crisis, safe-haven assets have seen inflows. This is true for gold, and Bitcoin is no exception. As a digital asset that does not rely on central institutions for issuance and has completely transparent transactions, Bitcoin often attracts institutional and individual investors during times of political and economic turmoil. This time is no different—when traditional economic data is difficult to trust, on-chain verifiable assets become much more attractive.

We have seen several waves of similar cycles. Whenever macro risks rise, Bitcoin liquidity significantly increases, and mainstream cryptocurrencies tend to follow suit and rise. Institutional investors increase their holdings of crypto assets to hedge against inflation expectations, and retail investors also begin to pay attention to this field.

However, it needs to be made clear that there are risks inherent in the crypto market itself. A crisis of policy credibility may drive up the demand for Bitcoin, but that does not mean it can surge significantly in the short term. The market still depends on multiple factors such as overall liquidity, regulatory attitudes, and technological developments.

The core idea is: when the credit foundation of the TradFi system is questioned, decentralized on-chain assets become relatively more stable and transparent. This is the fundamental logic behind the long-term existence of crypto assets, and it is also why macro uncertainty often acts as a catalyst for Bitcoin.