7.7 Tuesday Midday Market Analysis

South Korea's index, the global leader, has triggered a circuit breaker again. SK Hynix and Samsung are about to drag the Nasdaq down.
Let's first discuss the current status of the Nasdaq and the South Korean index.
1. The South Korean index finally dropped by -6%, dragged down by chip manufacturers. The profit growth driven by AI can no longer continue. High market expectations combined with high profitability demands have directly amplified investors' concerns. South Korean tech stocks related to AI computing power and storage began to trigger circuit breakers and plummet today. Samsung fell by -8% today, and SK Hynix fell by -7.8%.
2. Affected by the decline in the South Korean index and Samsung's drag, Nasdaq futures also opened lower today. All the impressive performances brought by AI have been consumed by the market. Nasdaq-listed Micron, SanDisk, and others will all be dragged down by Samsung and SK Hynix due to the deep binding of AI and storage.
Now let's talk about Bitcoin's white session today.
1. Last night, MicroStrategy sold 3,600 BTC, worth $200 million, which indeed caused a panic drop of 1,500 points. But no one expected the rebound to come faster and more fiercely, treating us short sellers as a comma—used when needed to drop, and when not needed, they try to squeeze us out.
2. Today, the white session dropped by 1,000 points, and the market has returned to 63,300, your short entry point. I think this may be consuming the bearish sentiment brought by the circuit breaker of the South Korean index.
3. If the price slowly falls to 62,800-62,500 during the day and then stops, and remains sideways, we should wait and see whether the Nasdaq will open lower at 21:30. If it does not open lower and move lower, Bitcoin is likely to either trade sideways or rebound in the night session. Although not highly correlated with the Nasdaq, the macroeconomic impact is still there.
BTC trading suggestion: Short at 63,500-64,500, stop loss above 65,000, take profit at 62,800-60,500.
ETH trading suggestion: Short around 1,800, stop loss at 1,850, take profit at 1,760-1,680.