Good evening, brothers!

In the letter to shareholders in 1992, Buffett wrote: "The term value investing is completely redundant. If investing is not the act of seeking potential value, then what is investing? To clearly know that the cost paid for a stock far exceeds its value, yet still hope to sell it at a higher price in the short term, can only be considered speculation. While speculation is not illegal and does not violate ethics, it is also very difficult to make money."

Quality and affordability are the best.

……

Strong non-farm payrolls have triggered a surge in U.S. Treasury yields, casting a shadow over global assets, and this wave of increase is primarily due to the "term premium." So, what is the term premium "rising" for?

Specifically, U.S. Treasury yields are mainly composed of three key components: short-term real interest rate expectations, inflation expectations, and term premium. Analysts generally believe that the term premium is the main reason for the recent rise in U.S. Treasury yields.

After the strong employment report was released on Friday, the New York Fed's term premium indicator climbed to its highest level in at least a decade.

Furthermore, the current rise in term premium is driven by the uncertainty of Trump’s policies and the supply-demand imbalance in U.S. Treasuries, as the peak of maturing U.S. medium- to long-term government bonds is approaching in 2025.

BTC: On the 4-hour level, the price remains near the upper Bollinger band, showing a strong price trend, with short-term conditions being overbought and a need for correction.

On the daily level, the price continues to oscillate near the moving averages, stabilizing in its price trend.

In summary, the support level is 96,300, and the resistance level is 96,900.

ETH: On the 4-hour level, the price stands above the middle Bollinger band, showing a strong price trend, with a support level of 3,210 and a resistance level of 3,250.

LTC: The price continues to remain below the middle Bollinger band, with the price trend continuing to oscillate and stabilize, with a support level of 98 and a resistance level of 106.

BCH: The price stands above the middle Bollinger band, showing a strong price trend, with a support level of 420 and a resistance level of 450.

That's all for now, good night!

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