Re-carving the boat on data, there is still a risk point in the crypto world that hasn't exploded - US stocks 🇺🇸

Retracement from the recent high:

The US stock market has dropped for 21 days with a decline of only 3%; while #BTC has been down for 42 days with a decline of -26%.

As shown in the figure: #BTC always falls before the US stock market 📉, and when the US stock market plummets, Bitcoin continues to drop.

🔔Wall Street analysts generally believe that there is an 80% chance the S&P 500 will pull back by 20–30%. Buffett votes with $381.7 billion in cash - preparing for a 20–35% decline.

The biggest problem with the US stock market right now is the AI bubble, with the Sharp P/E ratio reaching 40.33, close to the peak of the 1999 bubble. The top seven tech companies in the US alone have contributed 55% of the S&P's gains, putting all the eggs in the AI basket.

As mentioned yesterday, BTC is not a safe-haven asset; it is merely an overflow asset of USD liquidity. If the US stocks crash, the crypto world will be the first to suffer. Therefore, in my personal opinion, the premise for bottom-fishing is to wait for US stocks to stabilize. Currently, both long and short positions offer extremely low value.