Interestingly, the US tech sector performed well on Wednesday, with the Nasdaq rising against the trend by 0.5%, but the crypto market has entered a winter, showing completely different trends.

BTC opened sharply downward, with a 24-hour decline of over 3%, currently hovering around $91,100, with a strong bearish sentiment. ETH is also having a tough time—the top 20 digital assets collectively plunged nearly 4%, with XRP suffering the worst, dropping over 8% in a single day. Even with positive news from a major institution about launching a spot ETH ETF, ETH's price still fell by 3.6%.

What’s more painful is the stark contrast between traditional markets and crypto, precious metals. Gold fell by 1%, and silver was hit even harder, dropping about 5%, showing that even the traditionally strong precious metals couldn't withstand the pressure. The performance of crypto-related concept stocks is even more disappointing—MSTR only rose slightly by 1%, while peers like BMNR fell 6%, SBET down 2%, and XXI down 5%. However, it’s worth noting that the MSTR to IBIT ratio has rebounded from the support level of 3.0 to 3.11 for two consecutive weeks. Whether this area can continue to hold may become a key focus in the next phase.