So the key point is still to watch how the U.S. stock market reacts. If U.S. stocks rebound, cryptocurrencies will rebound too. In fact, we’ve already seen U.S. stocks, especially CME, move from a decline to a gradual rise. No one can be 100% certain about the specifics, but we can only find certainty within uncertainty. That said, I still believe that U.S. stocks and Bitcoin are highly correlated. If there’s a risk of U.S. stocks dropping, the probability of BTC dropping—given its lack of an independent narrative right now—will also be quite high. On the flip side, if U.S. stocks rise, the probability of BTC rising is also very high. At the moment, I see U.S. stocks gradually climbing. Goldman Sachs has raised the 12-month target for the S&P 500 index to 7,200 points. So, as I’ve been saying, even if there’s a pullback caused by H-1B (though it might not be), it won’t be the dominant narrative right now. The main focus is still the Fed’s interest rate debate. This post is sponsored by Bitget ｜ @Bitget_zh