Yesterday there was a lack of synchronization, and today it is the same. Yesterday, the US stock market fell while Bitcoin rose, and today $BTC is down while the US stock market is up. This aligns with what was mentioned in yesterday's report; there are no fundamental issues with the US stock market. The main factors are the decline in credit card rates and the bank sector's earnings reports. There are no actual negative impacts on the leading AI; it is merely the correlation between the financial and technology sectors.

Today's Bitcoin pullback may be due to Coinbase and others retracting their support for the CLARITY Act, which led the US Senate Banking Committee to postpone the draft review. In fact, Coinbase's CEO announced this event early this morning, but it only reflected in BTC's price after the US stock market opened. From this perspective, it is likely a result of institutional investors selling off.

The main reason is still the policy delay, especially since a significant part of the recent rise was due to the CLARITY Act. Now that it has been postponed, it increases uncertainty. Of course, this is not a major negative factor; it should still be revised, but the next two days will be quite important to see if BTC continues to follow the US stock market or remains stagnant.

Looking back at Bitcoin's data, the high trading volume of $BTC on Coinbase over the past two days has not continued, which is why I am concerned that BTC's buying power may significantly retract. However, the US stock market has already started to rebound today. If investors can be a bit more patient, I believe the upcoming trend won't be too bad. But if recent bottom-fishing investors are betting on the legislation, it will be quite painful.

The chip structure remains very stable. The support mentioned yesterday is a bit chaotic, and adjustments need to begin because a large amount consists of short-term chips. Therefore, to see stable support, more time is needed. However, as before, earlier loss-making investors still do not have a sensitive reaction to the price.

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