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

Yesterday, the US stock market continued to hit new highs, and Bitcoin finally succeeded in challenging $110,000 again. Although it is a bit regrettable that it did not follow the US stock market to reach new highs, it has at least temporarily stabilized at the $109,000 level, turning the resistance level of the past two weeks into a support point. Although June's non-farm payroll exceeded expectations and the unemployment rate unexpectedly fell, which is not favorable for the interest rate cut narrative this month, the market has basically anticipated a high chance of a rate cut in September, thus driving the market up.

Currently, the number of open contracts is also close to annual highs. If these short positions have not yet been reduced or liquidated, there is still some room for the market to rise.