I estimate that many friends will ask, why are cryptocurrencies, including $BTC, falling despite the positive news?

I can't provide a clear answer. Although interest rate cuts are expected by the market, the halt in balance sheet reduction is indeed a positive factor. The performance of the US stock market is even stronger. The only thing I can think of is that the US stock market, especially Google and Nvidia, is absorbing market liquidity.

I can't be certain that this is the case, but I do see a lot of funds flowing into the US stock market and the AI sector. However, I still believe that Bitcoin and tech stocks are highly correlated. During this phase of rising, some stocks may receive more attention, but as long as the overall trend is upward, BTC won't perform too poorly.

Of course, this is just my own opinion, and I may not be right.

This article is sponsored by #Bitget ｜ @Bitget_zh

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