The "money to be spent on borrowing" in the US has changed, and global assets must adjust accordingly.

Recently, there has been a key figure: the yield on the US 10-year Treasury bond has dropped to 4.024%, falling nearly 0.7% in one day. In simple terms, this yield reflects the market's grading of the US economy; a drop indicates that people believe the US economy isn't doing as well, or that the Federal Reserve might cut interest rates.

HSBC has also mentioned that the dollar may soften further. Why? Previously, whenever the Federal Reserve cut interest rates and the US economy wasn't collapsing, the dollar typically weakened, making it difficult for it to strengthen again in the short term.

This is a good thing for the cryptocurrency market: with lower Treasury yields, traditional investments become less attractive, and a softer dollar makes crypto assets "cheaper," potentially directing funds into the crypto market.

But don't rush; this is just a signal, and real money hasn't come in on a large scale yet. Don't follow the trend blindly; wait and see. #巨鲸动向 #鲍威尔发言