[Gate Ventures: US Stocks and Crypto Markets Diverge, Primary Funding Rebounds Significantly, Infrastructure Dominates] According to Gate Ventures' latest weekly market report, global financial markets experienced a sharp structural divergence in the week ending October 26. US stocks were dragged down by concerns about tech stock capital expenditures and ROI, with the Nasdaq and S&P 500 indices under pressure, while funds shifted to defensive sectors, pushing the Dow Jones Industrial Average to a gain against the trend. The Middle East situation pushed Brent crude oil up nearly 5%, and gold fell below $4,000. The total market capitalization of cryptocurrencies fell by 2.2%, with BTC and ETH falling by 2.4% and 3.4% respectively, and the Fear & Greed Index falling to 50 (neutral). Institutional allocations were significantly divergent, with Bitcoin spot ETFs seeing net inflows of $442.7 million, while Ethereum spot ETFs saw net outflows of $225 million. At the industry level, the construction of compliance infrastructure and the evolution of regulatory rules continued to deepen.