Orange Evening Interpretation 11.13 Now the Big Dipper is selectively following the iron law of the US stock market rising flat and falling flat. Now, we also need to add another rule: if one of the three major stock indexes falls, it will fall. Last night, the historic government shutdown in the United States ended, which was originally a good thing for the Big Dipper. The Dow Jones Industrial Average rose four times in a row to reach a new historical high, and the S&P also closed up 0.06%, but the Nasdaq fell 0.26% Technology stocks have also experienced more declines and less gains, which has taught the big pie to learn. It is directly compared to the Nasdaq, which hit the market all the way from 10w7 to 10w, almost breaking 10w. Those who don't know thought that the House vote last night did not pass it. It can only be said that the big pie is now fragile and sensitive, and it may be that the cryptocurrency industry has a more long-term perspective. They celebrate the government's opening of the door, the Ministry of Finance's opening of the gate to release water, and the cryptocurrency market sees a temporary funding agreement that will only last until January next year, when the government is likely to shut down. Therefore, they decided to open and fall early. Not only the big pie, but also the concept stocks in the cryptocurrency industry have fallen, Circle's financial report exceeded expectations and plummeted by 12%, which may be related to the upcoming end of the internal stock lock up period. The crazy selling of coins by coin executives at that time also killed retail investors, and the leading treasury stock, Mstr, also fell by nearly 3%. Now, the traditional world is discussing whether Mstr will liquidate in a bear market. There is $1.01 billion in debt due on September 15, 2027. Although it is still nearly two years away, the market sentiment is not good, and many FUDs have been amplified. Mstr has been buying coins and raising funds less and less in recent weeks, which is also a microcosm of the weakening interest of traditional funds in buying coins. Last night, the net outflow of the Big Cake ETF was 278 million, and the outflow of ether was 183 million, which fully benefited the inflow of funds from the day before yesterday. Erased, the currency market is clearly lacking in liquidity now. To continue to rise, stronger positive stimulus is needed In addition, Trump said that he would pay $2000 to every American last night, which was also hit by Besant. He said that he would not pay money and would pay dividends in the way of tax reduction. This is equivalent to not adding new liquidity to the market, which has greatly reduced the effect. This is also the reason for the sudden decline of the market. The market's desire for growth is too strong, so the potential benefits will be extremely valued, which also leads to the expectation being too high. Fortunately, today's big cake twice tested whether the iron bottom of 10w is firm, and both held. The market returns to the volatile market, falling at night and rising at day, falling at night and falling at day, while the cottage is an eternal decline, so to say If there are still copycats in the season, this is the last chance to escape, and the market may be more differentiated in the future. In addition to several mainstream copycats, they can be used in ETF, CME, ronbinhood, CB, and binance Coins that maintain sufficient liquidity on the blockchain will only continue to decline in other trends. Small and scattered hot money should still focus on on on chain PVP or contracts, and knockoffs in the middle zone will be eliminated by history. Speaking of the performance of the knockoff market last night, it was another day of general decline. Now the liquidity of knockoffs is too weak, and every round of major fluctuations is accompanied by a large number of surrender orders. That is, once holding at a high level, as the coin price continues to hit new lows, finally giving up the ideal choice of cutting meat. Several coins have been trading at the bottom. This scene often occurs at the end of bear markets in 2018 and 2022, but unfortunately, the market is still above 100000 yuan, which means that these knockoffs have become the first batch of projects eliminated by the times. It is really hopeless to stick to this type of coin now. We should switch positions as soon as possible. Narrative that may become popular in 2026, such as privacy, stablecoins Perp, Defi, RWA, AI, Depin, and so on. If you pursue stability, then try to participate in various first level money stuffing projects as much as possible, which will basically not result in losses. For example, CB's new monad, Sonar's new infinex, and cookies will bring you Vooi, which is invested by YZI. There are also king level Cantons, it is said that @ AztecNet is about to do IDO, as well as expected USDC public chain Arc, Paradigm supported Tempo, etc., or try to brush PERP DEX for airdrops, such as Lighter, Edgex, Apex, Pacifica, etc. Don't let being trapped affect your judgment of the future. There are many opportunities in the market, come out and take a look.