AI innovation and trade protectionism are becoming two deflationary pressures on the US economy. What does this mean? Consumer prices will continue to decline, but financial markets and asset valuations will face profound reshaping. Interestingly, when AI-driven productivity significantly improves, the entire market's pricing logic will change. The key question is: if the US economy enters a deflationary cycle, how will the correlation between traditional asset allocation and crypto assets evolve? The impact on the existing financial landscape is far more complex than it appears on the surface.