The opening of the U.S. stock market showed clear divergence, with the Dow edging up while the S&P 500 and Nasdaq moved lower simultaneously. The previously leading chip sector experienced a broad and sharp pullback, with SanDisk, Western Digital, and Micron Technology all falling over 6%. Even SpaceX, which was officially included in the Nasdaq 100 index today, saw a decline following the positive news, a classic case of "buy the rumor, sell the fact." The Nasdaq, as a bellwether for tech assets, weakened, directly dampening overall market risk appetite. Bitcoin and tech growth assets are highly correlated, so Bitcoin will passively follow the broader market under pressure, facing short-term pullback pressure. However, this U.S. stock decline is merely profit-taking at high levels. U.S. Treasury yields have not risen sharply, and the market's medium- to long-term logic of betting on a Fed rate cut has not changed. Bitcoin will not enter a unilateral crash; instead, it will maintain a weak consolidation pattern at elevated levels. With bulls losing the emotional support from the tech sector, the difficulty of a short-term surge increases. The market is likely to enter a pullback and rest phase. In terms of operations, do not chase highs; wait for the market to stabilize after the decline before positioning, while maintaining position risk control. $ETH $BTC $SOL