Today's work was really uncomfortable. I had hoped that Nvidia's financial report could boost investors' sentiment. After all, the AI foam did not seem to be so easy to burst, and it did boost for a short time. However, Nvidia fell after the opening of the US stock market. At 23:40, the entire US stock market fell, not only wiping out the 2.5% rise of the NASDAQ at the opening, but also falling 2.3% at the closing, an amplitude of nearly 5% a day, which is really rare. Especially the non farm payroll data released today is still relatively favorable for the December interest rate cut, but the market has still experienced such a significant decline. Indeed, a bearish decline is a signal of a dangerous start, often indicating that liquidity has begun to shrink. Last time this situation occurred, it felt like early 2022, but from the VIX data, it is still quite awkward. Currently, it is still 26, which is a relatively awkward range. If the market continues to rise and breaks through 30, it means that the market has entered a bearish sentiment low range. If it further breaks through 50, it is highly likely to be at the bottom. However, if it still remains at around 22 to 27, it can only represent that the market will continue to fluctuate up and down. Therefore, the most troublesome thing is that it cannot rise or fall. Looking back at the data of Bitcoin, although the price is falling, it is evident that the turnover rate is decreasing. Although just one day's data cannot represent anything, the turnover rate has been decreasing for two consecutive days, indicating that panicked investors are gradually decreasing. Although it has not yet returned to normal, the decrease in chips under panic selling is true. Although the current mood is very bad, it is basically expected that there will be no interest rate cut in December. At present, we may be waiting for a gradual bottoming out, and then we will see the reaction of the Federal Reserve, and then we will see what Trump has to do to deal with the decline of the stock market. From the URPD data, the current chip structure is still safe, and the support level has not collapsed. Bitget VIP， Lower rates and more generous benefits