$BTC

Global Core Risk List

1. Geopolitical Risk: Tensions between the U.S. and Venezuela (airspace blockade, military deployment upgrades); stalemate in Russia-Ukraine negotiations (U.S.-Russia non-compromise, European obstruction, which may lead to a decisive battle); deadlock in China-Japan relations (Japan's provocations regarding Taiwan, defense budget increasing for thirteen consecutive years); Israeli airstrikes on Yemen and other countries, escalating conflicts in the Middle East.

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2. Industry Bubble Risk: Phase bubble emerging in the AI sector (major companies reducing holdings, major short positions collapsing, industry valuation reshuffling).

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3. Financial Market Risk: Divergence in monetary policies of the U.S. and Japan (Federal Reserve cutting interest rates, clear signals from the Bank of Japan raising interest rates), which may trigger global capital turbulence.