From the FTX compensation situation, starting from the 18th, FTX will compensate in the form of stablecoins, with a total amount between 7 to 8 billion dollars. It is expected that a significant portion of these funds will flow back into the market. Overall, this has a certain positive effect on the market, but the contribution is limited.

From the market sentiment perspective, it has now entered an extreme state and may be close to the bottom. In terms of turnover rate, it is very low, and trading volume is also decreasing, indicating that we have reached the low point of the dead time, with most investors on the sidelines and unwilling to trade anymore. The market is waiting for when the Federal Reserve will be able to inject liquidity and when it will start expanding its balance sheet, as well as when the Strategic Reserve Act will be implemented.

Currently, over 30 states in the U.S. are pushing for legislation on strategic reserves, an increase of 8 states from the previous week. Once a certain state passes the relevant legislation, other states will follow suit, and it is expected that these states could potentially invest over 30 billion dollars.