As of August, the crypto market is once again facing severe fluctuations: Bitcoin is weakening in the short-term, while alts generally experience a pullback of 20%-30%, with daily liquidation exceeding $1.5 billion. The main driving force behind this has been pointed towards Trump. From new tariff policies, escalating geopolitical tensions, to macro data reversals and the Fed's inaction, the market is once again shrouded in fear, uncertainty and doubt (FUD). At the same time, rumors of "Trump secretly selling crypto assets" have further intensified market panic, triggering a new round of chain reactions. In this article, the author analyzes macro data and capital flows, proposing a judgment different from the mainstream: the short-term pullback may be an opportunity for long-term positioning, and the real "second wave bull run" may have already begun.