[Citibank Warns Bitcoin Weakness May Drag Down Nasdaq Performance, Liquidity Improvement Could Aid Rebound] According to a report by Citibank, Bitcoin's recent weak trading pattern could serve as a warning signal for a decline in the Nasdaq 100 Index. Analysts pointed out that the U.S. Treasury's rebuilding of its cash balance and a reduction in bank reserves by approximately $500 billion have led to liquidity tightening, suppressing the performance of Bitcoin and other risk assets. However, as the Treasury's cash balance approaches the end of its rebuilding phase, liquidity may improve, potentially driving a year-end rebound in Bitcoin and the stock market. In addition, Citibank mentioned that although the AI boom has supported the stock market, investors remain skeptical about the returns on high AI investments, while soaring hardware costs and supply constraints have raised concerns. Tech giants Meta and Alphabet have raised tens of billions of dollars through bond issuance to build data centers. This shift from cash to debt resembles the dot-com bubble era, but corporate balance sheets are more robust today. The report suggests that this debt expansion reflects opportunities rather than stress, though it may not necessarily be favorable for bondholders.