This week has been pretty eventful. Besides the two major macro events, five of the 'Seven Sisters' companies will release their earnings reports, including Apple Inc. (AAPL), Microsoft Corporation (MSFT), Alphabet Inc. (GOOGL), Amazon.com, Inc. (AMZN), and Meta Platforms, Inc. (META). The release of these earnings reports can almost immediately influence the movement of U.S. stocks, especially during this phase of shifting liquidity expectations and fragile market sentiment. The performance of these tech giants will directly determine the risk appetite of capital. If the overall performance exceeds expectations, the tech sector could drive a short-term rebound in the indices, further reinforcing the market narrative of a soft landing. However, if there’s a slowdown in profits or downward revisions in guidance, it could heighten concerns about the earnings cycle peaking, triggering short-term capital pullbacks. In general, this week’s earnings reports are not just company-level data events but are key to validating the core question of whether "easing liquidity can once again drive corporate profits." For the crypto market, this sentiment transmission is equally evident. Once U.S. tech stocks rebound, BTC typically benefits in tandem. We’ve discussed this point extensively over the past two weeks, so we won’t repeat it here. In terms of short-term strategy, I personally think it’s better to stay steady. If U.S. Treasury yields continue to decline after the earnings reports, it indicates that liquidity expectations are stabilizing, and risk assets could sustain their rebound. Conversely, if yields rise again, it suggests the market is recalibrating its expectations for the Fed’s path. For BTC, its price structure may continue to follow the fluctuations of the Nasdaq. This post is sponsored by Bitget ｜ @Bitget_zh