Recently, the correlation between the Nasdaq and BTC has shown signs of decoupling, but the overall direction is still constrained by macro liquidity. It is recommended to closely monitor the capital flow during the pre-market and opening hours of the U.S. stock market. If the U.S. stock market continues to adjust, it will be difficult for BTC to remain unaffected, especially be wary of the downside risks caused by the lack of liquidity after the U.S. stock market closes.