In recent days, Twitter has been acting up every evening, and now I can only see limited content. I can't even see replies to a post, which has given me the time to finish watching "Boys." I have to say this show has refreshed my perspective on "superhero" movies; it's really quite good, and indeed very explicit and violent.

I completely agree with the old man; currently, $MSTR hasn't risen, and I personally think it's more about investors' lack of confidence in the U.S. stock market. As I mentioned earlier, from a data perspective, including ETFs, there hasn't been a display of FOMO sentiment in the past two months. On the contrary, $BTC's spot performance has been quite good, at least the trading volume has increased somewhat.

Looking at the U.S. stock market, we can't rule out that the situation with U.S. Treasuries is causing the bond market to siphon off from risk markets. Although it seems that the tariff issues are gradually desensitizing and the economic situation is relatively good, Trump's frequent antics, along with the persistently high yields on U.S. Treasuries and the Federal Reserve's lack of intention to pivot, are all reasons for the market to reduce speculation.

I can't say for sure if we're heading downward, but at least I haven't seen any systemic risks yet. For Bitcoin, it might just replicate the trend of gold.

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