US stocks are experiencing a split; tech stocks crashing drag down the crypto market, then a V-shaped recovery occurs. I'm truly amazed. #加密市场反弹

Last night, US stocks showed severe differentiation, with both the Dow and S&P 500 hitting new highs, but tech stocks faced a significant setback. Oracle (ORCL) once plummeted 16% during the session, marking the largest single-day decline since 2001, with a market value evaporating by over 100 billion dollars, directly dragging the Nasdaq down. During this major tech stock shock, the crypto market experienced a synchronized trend, amplifying the effects, rising more sharply and falling harder.

Core points of the crash:

1️⃣ Cash flow explosion: last quarter's free cash flow was -10 billion dollars, far exceeding market expectations.

2️⃣ Debt + AI gamble: debts reached 93 billion dollars, yet there are plans to further invest 15 billion dollars All in AI, creating immense credit pressure.

3️⃣ Overvaluation: the premium compared to peers is as high as 56%, and AI clients are highly concentrated (NVIDIA, Meta, OpenAI), all of which are heavy spenders.

The crypto market also saw an amplified decline: Bitcoin once fell below 90,000 dollars, and the market was tougher than US stocks, followed by a V-shaped rebound, which was indeed too harsh.