The market's been acting weird lately: U.S. stocks are near all-time highs, but gold and Bitcoin are both dropping. U.S. stocks: S&P 7807, less than 1% away from a new high; VIX at 15, super calm Gold: 4191, down 5% this month, six straight weeks of losses Bitcoin: 82k, down 4% this week, failed to break 87k three times Based on past experience, gold and crypto shouldn’t both drop when the stock market is at a high. But this time is different because the market isn’t trading on "risk-off" sentiment—it’s trading on "rates are going up." You can get over 5% just by parking money in Treasuries, so non-yielding assets are taking the hit first. Gold doesn’t yield, Bitcoin doesn’t yield, so they’re both dropping. Last week, Bitcoin spot ETFs saw $680M in net outflows. So why isn’t the stock market dropping? Actually, only the big-cap stocks are holding up. Companies that rely on borrowing are already falling. The index is being propped up by a few highly profitable giants. Two things to watch this week: Wednesday (10/14) – U.S. September CPI: If it’s higher than expected, rates will rise again, and gold/crypto will stay under pressure. If it’s lower than expected, this trend could reverse. Thursday (10/15) – TSMC earnings: Big-cap stocks are being supported by strong earnings, and this will be the first real test. #Markets #Bitcoin #Gold #Stocks #CPI #TSMC #Investing