This time, U.S. stocks opened higher across the board, with the Dow Jones Industrial Average opening slightly higher, and the S&P 500 and Nasdaq closing higher together. The semiconductor sector and SPCX continued their strong upward momentum, which in the short term will slightly boost the overall market risk appetite, providing brief emotional support for Bitcoin, easing the ongoing weak market sentiment, and triggering a small rebound led by existing capital. However, it should be noted that the current capital focus is mainly on compliant U.S. tech growth stocks, with a large amount of speculative funds diverted, and no sustained influx of new capital into the crypto market. The rebound driven solely by sentiment is very limited. The long-term core valuation logic in the market remains anchored to the high-interest-rate environment of the Federal Reserve and the high yields of U.S. Treasuries. This positive news about U.S. stocks can only generate short-term pulse-like movements and cannot change Bitcoin’s overall weak medium-term bearish pattern. After reaching key resistance levels, the rebound will still revert to the original downward trend. In terms of trading, avoid blindly chasing gains; the rebound remains under pressure, and the main approach should still be to follow the trend and look for opportunities to short. $ETH $BTC $SOL