Recently, the situation in the Middle East is still not very stable. The US and Iran just talks broke down, and the new round of negotiations originally scheduled for the 22nd yesterday also didn’t happen. The earlier temporary ceasefire agreement has also expired. One side says “pause” for a while, then denies it, and then says the opposite again—mixed and sometimes true, sometimes false messages have left people feeling unsure.

However, strangely enough, the stock market isn’t panicking at all. The very day the negotiations fell apart, the three major US stock indexes kept hitting new highs, and technology stocks rose especially sharply. The market seems as if it’s not worrying about the war at all. How long this “don’t care, just keep rising” sentiment can last still needs to be observed further.

Also, Bitcoin is moving up as well. Yesterday, it surged to above $78 million, setting an 11-week high. Behind it is real money coming in—Bitcoin spot ETFs have seen inflows of nearly $1 billion in just the past week, and big institutions have been entering the market. Plus, US inflation data came in milder than expected, easing concerns about further interest rate hikes.

The target we mentioned last weekend—80,000—should be arriving almost immediately
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