$BTC$ETH This time, the US stock market is experiencing a large-scale capital sell-off not seen since 2020. On the surface, it's an index decline, but at its core, institutions are repricing interest rate cut expectations. In a high-yield environment for long-term bonds, the valuation logic for high-valued assets is being continuously adjusted.
The capital is not sold off all at once and then finished; the sell-off follows two paths: one is a concentrated clearing leading to exhaustion of selling pressure and then capital replenishment; the other is a continued weakening of expectations, with selling pressure extending outward. As a risk asset, the crypto market will passively absorb this sentiment transmission.
The market trend depends on subsequent verification from US Treasury and employment data. A wave of selling does not directly equate to a sustained one-sided decline.
#美股遭大幅抛售：费城半导体指数创2020年3月以来最大单日跌幅
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