Immediately following the previous text! Due to the rapid rise in US Treasury yields, such a phenomenon will lead to a result! That is, it will withdraw funds from the market, with US stocks being the first to bear the brunt. Although BTC has already reached new highs, we cannot rule out whether the crypto market will have a delayed reaction.

In terms of market sentiment, it is both extreme and fragmented; institutions are withdrawing, hedge funds are busy shorting, and only retail investors are rushing in, with retail fund inflows reaching a new high for the week. The news of BTC breaking new highs has made it to the Weibo trending topics, and the fear and greed index has risen to 73, entering the greed phase. However, since this is just the beginning, it may only last for a short period. Stay slightly vigilant and focus on key information.

Next, the key focus will be whether ETH and various altcoins will catch up after BTC's new high?! If the altcoin market shows a profit effect and experiences a short-term upward trend, it may continue for some time.