The US stock market staged a V-shaped reversal yesterday, with retail investors making a record purchase of $4.1 billion mainly flowing into technology stocks and BTC ETFs, fully absorbing the impact of the downgraded ratings. Currently, the S&P 500 and BTC are only about 3% away from their historical highs.
Trends: The seven tech giants received a net inflow of $3.2 billion, while BTC ETF saw a net subscription of 42,000 units in a single day, and the open interest in options dropped sharply by 40%.
Current market status characteristics:
√ Retail investor sentiment index has surpassed the greed threshold.
√ Major funds show a characteristic of "clear withdrawal but hidden entrance."
√ The volatility surface has exhibited an unusually steep incline.