January 15 Market Highlights. The latest economic data from the Federal Reserve shows a moderate growth trend, which has a profound impact on liquidity expectations in the crypto asset market. There are new developments in chip policy—imposing a 25% tariff on imported chips not supplied to the US, which will alter the cost structure of the tech industry. The US Supreme Court has not yet clarified its stance on the legality of tariffs, and market expectations remain tentative. In precious metals, the gold-silver ratio has fallen below the 50 mark, indicating a shift in market risk aversion sentiment. Importantly, the margin requirement for major stock market financing has been raised from 80% to 100%, signaling a tightening of liquidity management. Relevant departments are simultaneously advancing financial coordination policies aimed at stabilizing domestic demand expectations. The overlay of multiple policy signals requires crypto market participants to closely monitor policy pace and capital flow changes.