#数字资产市场动态 The recent performance of the US stock market is interesting—The Nasdaq index fell yesterday, but the Russell 2000 index reversed and rose. Behind this divergence, it actually reflects a shift in risk appetite among funds.

Some market analysts point out that when traditional markets' risk aversion increases, it coincides with a window where crypto assets attract high-risk appetite capital. $BTC and $ETH 's recent trend is quite typical—the price broke through key resistance levels earlier and didn't fall back, instead continuing to rise. ETH's on-chain activity also increased accordingly. All these signals point in the same direction: funds are flowing into high-beta assets.

From the rotation pattern between large-cap and small-cap stocks, when small and mid-cap assets become active, it usually indicates that market risk appetite is heating up. This cycle coincides with the crypto market's recovery phase, and many traders have noticed this opportunity.

Speaking of which, the crypto market is inherently volatile. While this bullish logic has caught the rhythm of capital rotation, whether it can sustain further gains depends on the subsequent performance of the US stock market and whether new variables emerge in the crypto space. But based on current signals, many holders have already shifted their attention to the potential for further upside.