Last night, the US stock market was quite divided—Dow Jones rose by 1.34% and hit a new high, but the Nasdaq 100 dropped by 0.35%. Tech stocks didn't perform well, with Oracle's earnings report directly dragging down the index.

Things were even more exciting in Bitcoin, which directly fell below the $90,000 mark. This decline was mainly caused by the Federal Reserve's "hawkish pause" stance, which cooled market expectations of liquidity easing. In simple terms, the anticipated monetary easing is now nowhere to be seen.

Currently, the traditional markets and digital currency markets are showing a clear divergence. The Dow's blue-chip stocks can still hold up, but the tech sector and crypto assets are much more fragile and highly sensitive to macro policy changes.

In the coming period, we should focus on the Federal Reserve's policy direction. After all, market sentiment is now largely following the central bank's cues, and even slight movements can trigger rapid reactions in the digital currency space.