The three major U.S. stock indices opened sharply higher across the board tonight, with the Nasdaq leading the gains. The overall market risk appetite has clearly improved, providing short-term emotional support to the market, easing the persistent selling pressure caused by the Fed's hawkish signals earlier, and allowing for a phased minor rebound. However, this round of U.S. stock market rally is only a short-term emotional recovery. The macroeconomic core negative factors such as high interest rates and delayed rate cuts have not changed, and a large influx of market capital has flowed into the stock market, diverting liquidity from digital assets. The bulls lack sustained inflows of funds, and this rebound is merely a correction within the decline process, with no basis for a trend reversal. Therefore, it is not advisable to blindly chase the rally in operations. Price rebounds to key resistance levels still face pressure, and subsequent monitoring of U.S. Treasury yields and economic data is necessary to judge the long-term trend. $BTC $ETH $SOL