It's the weekend, and market sentiment has relatively calmed down. Now we can review the current US stock and crypto markets.
In the US stock market, macro-wise, high interest rates and widening credit spreads are observed.
At the meso level, although the AI narrative remains healthy in trend, short-term capital expenditures and revenues are imbalanced, causing market concerns about ROIC, leading to valuation adjustments in the overall narrative.
At the micro level, tech stock earnings reports are unfavorable, and major tech companies are increasingly showing issues, heightening market worries.
Compared to the US stock market, #Bitcoin currently faces fewer problems. Although it is also under macro pressure and its narrative is not outstanding, it has no fatal flaws. The recent hack of a leading exchange is actually a good opportunity for clearing out.
After calming down, how many difficulties does #BTC still face in the future? Compared to the US stock market, whether it is valuation adjustment needs or industry narrative, things seem to be much better.
Therefore, I still agree with one viewpoint — as long as no continuous risks emerge afterward, this event actually marks the start of a new crypto bull market. Alongside the US stock market valuation adjustment, whether accompanied by US stock risk appetite or crypto bottom consolidation, the upward potential currently looks much greater than the downside! #美联储官员释放加息信号，12月预期仍存分歧
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