Weekend trading is quiet—let’s talk about the core trend.

A-shares are about to cool off, and the capital allocation structure is about to change.
Big funds packed into technology stocks have already started rotating positions.
They are preparing to move out of the overvalued theme and reposition into an industrial layout based on the Dow index.
This playbook has been put into practice by institutions before.
For Hynix and the Nasdaq 100, the KOSPI index, SanDisk, and Micron—
their daily chart movements are completely linked.
It has long become a chain of tightly “leashed” lemmings in the AI industry supply chain.
Last week, they collectively plunged 10%-20%.
The trigger was Hynix’s abnormal move.
Big money betting on the AI sector for the next six months has already torn open a clear fault line.
Now the whole market is watching the KOSPI index at Monday’s open—
to see whether it will catch up to the downside selloff that Friday’s closure helped it avoid,
or whether it will pull back into a rebound.
This morning, BTC’s rise against the trend essentially comes from the fact that the KOSPI index and the Nasdaq 100 were closed.
Overnight, offshore market funds that were freed up temporarily flowed back into the crypto market.
The current transmission chain is already fully connected:
Hynix breaks down and falls → KOSPI drops lower → Micron
SanDisk follows down → Nasdaq 100 collectively weakens