When there is a screen full of Unfavourable Information, it is often the market preparing for a big move.

Today’s situation is indeed intimidating—Japanese and South Korean stock markets have surged and then retreated, the U.S. stock market is in a sea of red before the opening, and funds for Bitcoin ETFs are flowing out again. At first glance, it’s all bad news, but should we really be alarmed?

First, let's look at three pieces of Unfavourable Information:

Last week, the Federal Reserve stated that "there is no rush to cut interest rates," and the market immediately entered an emo mode.

The ETF saw a net outflow of over $800 million last week, and another $180 million on Monday. In fact, most of this is institutional reallocation, not a real withdrawal.

The U.S. government shutdown lasted a record 35 days, and the Supreme Court will also hear the Trump tariff case. There is uncertainty, but this "old news" has long been chewed over.

The question arises —

When all bad news is priced in, the market's "Unfavourable Information immunity" is about to kick in.

Think about Q4 2022, when the whole network was talking about a recession, and then in the spring of 2023, US stocks and BTC took off together. It's the same now: inflation is declining, and the easing cycle will come sooner or later; ETFs have stuffed BTC into institutional asset pools; funds are just waiting for a better entry opportunity.

Every deep decline is a period of differentiation between the strong and the weak.

The bull market is not hidden in the news headlines, but in patience. When feeling anxious, turn off the market software and go for a walk. The market always rewards those who can withstand it.