Today, the situation in the US stock market—especially for AI and semiconductors—is still not ideal. The indices it drives have all started to fall. Recently, I wrote about seven or eight related tweets, and you can see them in the pinned posts. Many friends, after moving from crypto into the US stock market, still use a rather aggressive approach. I find it hard to comment on that, but for the US stock market, the importance of data may be even more meaningful.

For example, the flow of funds—why institutions and hedge funds are exiting tech stocks. Also, where exactly this round of retail investors’ money is coming from: has there been too much financing, or have they bought higher-leverage ETFs? These are all data points that can affect stock price movements, especially now that the US is still in a period of monetary policy tightening, when high interest rates themselves are not friendly.

However, compared with the US stock market, today’s Bitcoin is performing pretty well. It not only was not affected by Monday’s MSTR selling BTC, but instead it rose to $64,000. Still, I saw a claim in the English-speaking community that this rally might be related to whether Trump’s account includes Bitcoin—of course, that’s only a theory.

In fact, we’ve been saying that, starting from $60,000, the sentiment for buying Bitcoin has been very strong. And yesterday’s spot ETF data showed that almost all institutions were net inflow. Even though the amount of capital wasn’t large, it suggests that traditional investors may be paying attention to Bitcoin again.