Today's panic index is 73, still in a state of greed.

Last night's small non-farm payrolls were surprisingly weak, stabilizing the market's narrative of an early interest rate cut, with US stocks even reaching new highs. Old Ma liked Trump again, making the market believe they have reconciled, and there are also rumors that Old Powell is under investigation, causing Bitcoin to surge past 10.9. If Old Powell is suspended or resigns voluntarily due to pressure, a person who supports Trump's interest rate cuts will take over, so the market interprets this as positive news.

If tonight's non-farm payrolls are also worse than expected, the chances of a rate cut in September will be quite high. As long as next week's tariff negotiations go smoothly or no other bad news emerges, it is believed that US stocks and the cryptocurrency market will maintain this upward momentum until the positive expectations of rate cuts materialize.