火星财经消息，4 月 4 日，Michael Saylor 在 X 平台回应「比特币与美股走势趋同」问题时表示，比特币短期内像风险资产一样交易，因为它是地球上流动性最强、最畅销、全天候的资产。在恐慌时期，交易员会出售他们能卖的东西，而不是他们想卖的东西。这并不意味着它具有长期相关性——只是意味着它总是可用的。

<div>火星财经消息，4 月 4 日，Michael Saylor 在 X 平台回应「比特币与美股走势趋同」问题时表示，比特币短期内像风险资产一样交易，因为它是地球上流动性最强、最畅销、全天候的资产。在恐慌时期，交易员会出售他们能卖的东西，而不是他们想卖的东西。这并不意味着它具有长期相关性——只是意味着它总是可用的。</div>

Michael Saylor：比特币短期具备风险资产特征因为其流动性最强

<Huoxing Finance> news, on April 4, Michael Saylor responded to the question "Bitcoin's trend is similar to US stocks" on the <X> platform, stating that Bitcoin trades like a risk asset in the short term because it is the most liquid, most popular, and all-weather asset on Earth. During periods of panic, traders sell what they can sell, not what they want to sell. This does not mean it has long-term correlation—it just means it is always available.

<div>Mars Finance News, on April 4, Michael Saylor responded to the question "Bitcoin's correlation with US stock market trends" by stating that Bitcoin is trading like a risk asset in the short term because it is the most liquid, most popular, and all-weather asset on Earth. During periods of panic, traders sell what they can sell, not what they want to sell. This does not mean it has long-term correlation—it just means it is always available.</div>

Michael Saylor: Bitcoin has the characteristics of a risky asset in the short term because it has the highest liquidity

Another case of "address poisoning," causing one user to lose $50 million. Photo: Techradar
The attack caused a shock.
A cryptocurrency user lost nearly $50 million USDT after mistakenly transferring the funds to...

Another case of "address poisoning," causing one user to lose $50 million.

Today we saw gold, silver, and palladium all hit new highs! Since the correction at the end of October, gold has been trading above the 25-35 day moving average; silver is rising along the four-hour moving average; and palladium is rising along the three-day moving average.
Synchronization: This "synchronized new highs" usually signifies the start of a major trend. Gold provides "stability," silver provides "elasticity," while the addition of palladium indicates a dual surge in industrial and investment demand.
In this clear upward trend, trading volume has not weakened significantly and no bearish structure has emerged. Don't try to short the short at the top; otherwise, you'll end up with...

Market Analysis | Gold, Silver, and Palladium Hit New Highs! How High Can They Go!?

Chapter 1: Executive Summary and Industry Landscape Analysis
As of December 19, 2025, the global digital asset mining sector is undergoing the most profound structural transformation since the birth of Bitcoin. With Bitcoin's price retreating to the $86,000 range after reaching an all-time high of approximately $125,000 in October 2025, and the total network hashrate surpassing the 1,000 EH/s mark, mining companies face the dual challenges of compressed profit margins and surging capital expenditures in the "post-halving era."

1.1 Industry Differentiation

Figure 1: Analysis of the Relationship between Hashrate and Market Capitalization of Major Mining Companies in 2025

The above figure clearly shows the current...