In the past 24 hours, the MarketVectorTM Digital Assets 100 Small Cap Index rose by 2.33%, currently reporting at 2234.25 points. Since trading ended last Friday (7*24), it has accumulated an increase of 5.08%. From June 27 to 30, the index remained stable near 2100 points at a low level, and from July 1 to 3, it continued to rise.

Goldman Sachs believes that the rapid rise in real interest rates has exerted more direct pressure on the US stock market, with rate-sensitive sectors such as small-cap and financial stocks being particularly affected. On the liquidity front, Goldman Sachs estimates that pension funds may sell around $3.3 billions in equities at the end of the month and quarter, and that CTAs may sell about $530 million worth of Russell 2000 index futures in the coming week. For the market, unless the issues of oil and interest rates are resolved, the AI narrative is "almost irrelevant."

On Wednesday, the yen strengthened against the US dollar, with the USD/JPY rate falling below the 157 mark, as repeated warnings from the Japanese government regarding exchange rates and end-of-quarter capital flows provided support for the yen.