Recent fluctuations in the US stock market AI sector have indeed provided the market with many insights. The sell-off last week was mainly driven by two factors — analysts' overinterpretation of the comments from Broadcom's CEO, combined with the grand narrative of extreme ultraviolet lithography's "Manhattan Project" style. To be honest, these are essentially market noise over the next six months to a year.

But looking at this week's performance makes it clear. AI-related stocks collectively rebounded, even Oracle, which was previously the weakest, rose along with them, although it is still struggling in the quagmire of debt issues. This kind of broad rebound usually signals: panic sentiment has dissipated, and the bottom phase is basically confirmed. More direct evidence is that the Nasdaq 100 Index has fully recovered from the declines caused by those "bad news headlines."

For those of us in the crypto circle, the key observation point is ETH. It is inherently endowed with the gene of tech stocks, and its fluctuations are often more intense than the broader market. This is also why the correlation between ETH and the Nasdaq 100 Index has remained high. In other words, how the US tech sector moves, ETH is basically inseparable from the influence.