The whole world is adjusting
$BTC Looking at the external market, a quick scan: On Tuesday, the US stock market finally took a breather from its highs, with the Dow down 0.66%, the S&P down 0.22%, and the Nasdaq down 0.22%, all three indices dipping slightly together. But don’t be fooled by just this one day — during the A-share holiday (10/1-10/6), the Nasdaq rose cumulatively by 2.75%, the S&P by 2.19%, both hitting new highs, with Nvidia and AMD repeatedly hitting record highs. The script of "surging during the holiday, plunging at the open" plays out every year. The Hong Kong stock market fell 1.96% over four trading days, with the Hang Seng Index at 24,130 leading the tech sector decline. Today (10/8), the first trading day after the National Day holiday for A-shares, the central bank conducted 1.2 trillion yuan in outright reverse repos, with 1 trillion yuan maturing, resulting in a net injection of 200 billion yuan, providing ammunition for a strong post-holiday start.
On the macro front, the Federal Reserve’s September minutes were just released early this morning, with all 19 officials unanimously supporting a rate hike, most leaning toward another one this year, but the probability of consecutive hikes in October has dropped to 19.4%. The market is stuck chewing on the "higher for longer" gum, unable to spit it out or swallow it. The US dollar index retreated to 102.5, and the 10-year US Treasury yield hovered around 4.85%. Meanwhile, gold broke through 2750 to hit a record high. On the geopolitical side, Trump said the Iran issue "must be wrapped up," which actually eased oil prices — gold is happily setting records, while the crypto market hit weekly lows, leaving people stunned.
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