The global asset performance in the last 24 hours shows a rapid recovery in market sentiment. The three major U.S. stock indices and $BTC have all risen, reflecting a reallocation of funds into risk assets and an overall increase in market risk appetite. A key factor driving this sentiment recovery is the VIX index, which fell over 10% in a single day, indicating a significant decrease in market panic.

Structurally, the simultaneous rise of BTC and gold suggests that the market is not in a state of panic but is betting on a recovery in liquidity and a peak in interest rates. The Bitcoin turnover rate has increased but remains within a normal range, and URPD data is stable, indicating that investors are not fleeing in panic. The current focus of speculation remains on U.S.-China trade relations and expectations for Federal Reserve interest rate cuts.

As long as these two logics are not broken, the market still has a stable foundation in the short term.

This article is sponsored by #Bitget ｜ @Bitget_zh

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