XinGPT Research Weekly Report (May 26th to May 30th) I'm going out to touch grass tomorrow. Today, I wrote the weekly report in advance, and while the market hasn't completely closed yet, I'll organize my recent trading ideas. My trading framework is a top-down logical chain: first determine the direction based on macro trends, then select segmented tracks to capture thematic opportunities, and finally leave some space for market sentiment and luck. 🔍 Macro level: shift towards moderation -On the macro level, the trend is good. The Trump tariff has been suspended by the US "US Court of International Trade", which should be stopped for a while. Of course, the White House has appealed, but the tariff dispute shows that there has been resistance in the US. The key focus that may need to be seen in the future is the impact of tariffs on inflation. As the actual implementation rate is expected to be low, the impact is controllable. The Federal Reserve raised both its monetary policy and inflation expectations in May. 💸 Topic: New Narrative of Bitcoin 'Inclusion in the Asset Sheet of Listed Companies' -The main positive news for Bitcoin last week was that US listed companies such as GME and DJT have added micro strategy gameplay. Bitcoin will be included in the assets purchased by listed companies, and more listed companies will refer to similar gameplay in the future. This is certainly a positive stimulus for the cryptocurrency market, but for these 'coin stocks', it also means a new round of gaming: -Micro strategy has established a leading position due to its first mover advantage and asset size; -It is difficult for newly joined companies to convince investors to accept the premium logic of 'buying my stocks equals buying Bitcoin'; -It is more efficient to invest directly in a Bitcoin ETF rather than buying coins through a company in a roundabout manner. In the short term, I believe that micro strategies will also be impacted, and we will liquidate our holdings in micro strategies and related similar stocks in the near future. My previous reason for building a position was to see Bitcoin reach a new high and also achieve the milestone of building a position. For Bitcoin, the long-term holdings of these listed companies will further reduce its volatility, and high-risk players will continue to differentiate. 📈 Technical and financial aspects: adjustment needs in a strong market The Bitcoin ETF maintained a net inflow last week, but the fund intensity was not as strong as the peak of previous weeks. In terms of trend, BTC's weekly chart has closed 7 consecutive positive days, and there is short-term technical pressure for a pullback, but overall it remains strong. As long as the price remains stable above the daily EMA20 (approximately $100500), the structure is still healthy and there is no rush to be bearish, but attention should be paid to high-level fluctuations.