- US Stocks: Entering a carnival mode, S&P up 0.64%, NASDAQ up nearly 1% (Strangely, AI is falling while traditional sectors are rising)
- Gold: Nearly 3% increase in a single day; logically, geopolitical easing should have caused a decline
- US Bonds: 10-year yield drops back to 4.16%, 2-year yield is also falling, but the decline is minimal, indicating that everyone is still observing the risks
Focus on BTC
- Subtle changes in correlation: Over the past month, the correlation between BTC and NASDAQ has actually been decreasing
- BTC is shifting from a “risk asset” to a “liquidity hedge asset”
- On-chain data shows that the selling pressure of long-term holders (LTH) has significantly weakened around $92k
An counterintuitive point: 90,000 BTC is more cost-effective than 85,000 BTC
Everyone is now front-running the non-farm payroll data on Friday; it seems everyone is trying to get ahead, and we will wait and see
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BTC finally no longer correlates with US stocks
- US Stocks: Entering a carnival mode, S&P up 0.64%, NASDAQ up nearly 1% (Strangely, AI is falling while traditional sectors are rising)
- Gold: Nearly 3% increase in a single day; logically, geopolitical easing should have caused a decline
- US Bonds: 10-year yield drops back to 4.16%, 2-year yield is also falling, but the decline is minimal, indicating that everyone is still observing the risks
Focus on BTC
- Subtle changes in correlation: Over the past month, the correlation between BTC and NASDAQ has actually been decreasing
- BTC is shifting from a “risk asset” to a “liquidity hedge asset”
- On-chain data shows that the selling pressure of long-term holders (LTH) has significantly weakened around $92k
An counterintuitive point: 90,000 BTC is more cost-effective than 85,000 BTC
Everyone is now front-running the non-farm payroll data on Friday; it seems everyone is trying to get ahead, and we will wait and see