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#美国民主党BlueVault The small dip on Wednesday, but it made the entire market nervous.
Look at how major global markets reacted yesterday:
US stocks collectively weakened — Dow Jones fell 0.09%, S&P 500 dropped 0.53%, Nasdaq fared worse, down 1%. Oil prices fluctuated between $59 and $62, ending flat. The dollar also started to turn downward.
But what's strange here is: safe-haven assets like gold, silver, $BTC, and $ETH are moving upward.
What does this phenomenon indicate?
**First Signal**: The market correlation has returned to normal rhythm. On one side, confidence in traditional finance is collapsing (US stocks and dollar both under pressure), on the other side, no one dares to fully exit (continually bottom-fishing gold and cryptocurrencies). Apart from silver, yesterday there was no market showing a sharp surge to support the market. Bulls are hesitant to chase, bears lack the courage to push down, everyone is waiting for a new story to set the price. Once the market departs from fundamentals and is driven purely by narratives, it enters a high-volatility zone of confusion.
**Second Signal**: The fears are changing daily. Monday, fear of Fed independence (Powell being summoned); Tuesday, fear of no rate cuts; Wednesday, fear of geopolitical conflicts (Greenland, Iran). Risk events are lining up one after another, like a queue.
**Third and Key Point**: Most people only look at VIX (closed at 16.75 yesterday), but smart money is watching VVIX. VVIX broke above 100 (closed at 104.85), meaning the market is buying insurance against "volatility of volatility." This isn't about betting on a short-term decline, but preparing for "complete loss of future sentiment." This level of unease has already exceeded ordinary risk hedging.
$BTC $ETH $BNB