On Monday, the US stock market saw a technical rebound, but the gains were narrow. The S&P rose 0.41% to 7690.73, the Nasdaq gained 1.11% to 26430.89, while the Dow slipped 0.07% to 51966.03. After the Nasdaq plunged 2.15% on Friday and chips declined for eight consecutive trading days, related sectors were first bought back. The Philadelphia Semiconductor Index ended its losing streak that day, with memory stocks particularly strong—SanDisk rose about 7%, Micron gained over 4%. Amazon jumped nearly 5% after being named a top pick by Morgan Stanley, and Tesla also moved upward. From the outside, the indexes appear to be recovering, but most individual stocks are still falling. The Dow did not keep up; utilities and real estate were pressured down by interest rates, with the 10-year Treasury yield rising to around 5.13%. The VIX dropped from 19.99 on Friday to 18.44, easing sentiment somewhat but not returning to calm. The market is not trading on "AI is no problem anymore," but rather on "last week's drop was too severe, so buy back first and wait for earnings." Tesla, Meta, and Netflix will report results this week; capital is willing to buy back battered chip and cloud-related stocks first, but breadth is insufficient. The gains are still concentrated in a few main themes; most other sectors have not followed. Whether the rebound can last a couple more days depends on how these companies discuss capital expenditures and demand. If the explanations are reasonable, capital will continue to buy; if vague, Friday's shadow will return. The biggest fear now is not a decline, but realizing that what you bought no longer has a new story to tell. $BTC $ETH $SNDK #Institutional funds weaken, BT

The total global cryptocurrency market capitalization is around $2.75 trillion, with slight fluctuations in the past 24 hours, overall relatively stable. Bitcoin accounts for about 59.6%–60.2%. The Fear & Greed Index (Alternative.me) is at 59, in the "Greed" range.  Major coin prices (around 7 AM Beijing time): • Bitcoin (BTC): approximately $81,940–82,100, 24-hour change about +0.3% to +1.4% • Ethereum (ETH): approximately $2,400–2,410, 24-hour change about +0.5% to +2% • Solana (SOL): approximately $104.5–105.5, 24-hour change about +1% to +3% • BNB: approximately $728–732, 24-hour change about +1.5% to +3% • XRP: approximately $1.30, 24-hour change about +0.3% to +3% • Dogecoin (DOGE): approximately $0.0797, 24-hour change about +0.7% to +2.6% ZEC is relatively strong, priced around $1,150, with 24-hour gains leading most major coins. Overnight highlights: The US spot Bitcoin ETF recorded a net outflow of about $228 million in the week ending October 16, with about $82.4 million outflow on the 16th alone (mainly contributed by BlackRock IBIT). Ethereum spot ETF