Bitcoin hits a new all-time high, while the US stock market experiences a significant pullback. What does this divergence indicate? Let me briefly share my views.

1. Bitcoin's status as digital gold has been confirmed, showing a trend similar to gold, demonstrating its role as a hedge against risk and inflation. This aligns with Bitcoin's original design, as if an ideal is gradually becoming reality.

2. The credibility of the US dollar is gradually declining, as evidenced by last night's US Treasury auction yield breaking 4.5%+ and the upward trend of gold since last year. The sharp rise in US Treasury yields near the 6000-point mark is clearly a significant pressure on US stocks, or rather, a good reason for a pullback.

3. What can we do? Allocate to gold—as long as central banks continue buying gold, we can buy the dip. In this market, central banks are the market makers. For a more conservative approach, short-term positions in money market funds with a 4.5% yield are a safe bet while waiting for market opportunities. The core of US stocks will still rise in the long term, especially the MAG7.