#山寨季何时到来 Today's market presents a contrast of extremes: the three major U.S. stock indices surged collectively (Nasdaq +4% / S&P +3.3%), while BTC fell against the trend by 2.2%, losing the 101000 level. This rare divergence mainly stems from:

1) Funds rotating from the crypto market to the stock market;

2) U.S. Treasury yields continuing to rise (10-year approaching 4.5%);

3) Cooling expectations for Federal Reserve rate cuts.

Technical indicators show that BTC has entered a medium-term adjustment cycle, with the violent fluctuations between 105800-100700 yesterday validating that the high short strategy was correct 🤓🤓🤓