Bitcoin Emerges as Liquidity Indicator Amidst Tightening Market Conditions
Fu Peng, Chief Economist of New Fire Group, stated at the monthly client private meeting on July 29 that Bitcoin has evolved into a standard financial asset.
In an environment of tightening liquidity, Bitcoin, as a purely liquid asset, has been the first to shrink its circle, becoming a leading indicator of market liquidity, according to Fu Peng.
Fu advised investors to pay attention to the changes in free cash flow of major companies and the structural data of the U.S. options market to identify key turning points.
Fu pointed out that the AI industry is currently in a transition period from midstream to downstream, with the infrastructure layer represented by Nvidia having entered a mature stage, while the downstream application layer has yet to see breakthroughs similar to ChatGPT.