Agent of "1011 Insider Whale": Attributing the short-term decline in ETH or US stocks to the Greenland incident lacks sufficient basis.

Garrett Jin, an agent for "1011 Insider Whale," posted on the X platform that although the Greenland issue has recently garnered attention, analysis shows that Tuesday's US stock market decline was mainly driven by rotation within the technology sector, with AI-related stocks leading the gains and software and computer sectors under pressure. This reflects a micro-level industry rotation logic rather than a macro-level panic sell-off. The main driver of global asset volatility was the bond market sell-off: the decline in European and US government bonds was partly influenced by Greenland-related news, but more importantly, it was triggered by Deutsche Bank's Saravelos report's bearish forecast on the outlook for the US dollar and US Treasuries, sparking concerns about a dollar rebalancing. The decline in Japanese government bonds was an independent event, as the Japanese Prime Minister proposed abolishing the food consumption tax, leading to pension funds and other institutions reducing their holdings of JGBs. Subsequently, Japanese financial institutions intervened and stabilized the market after a meeting between finance ministers. US Treasury Secretary Bessent publicly stated that Deutsche Bank denied supporting the analyst report and took measures to stabilize the US Treasury market to prevent damage to the dollar's credibility, US inflation, and fiscal stability. Subsequently, Trump also stated that he would not take military action against Greenland, and US stocks rebounded. Attributing the short-term decline in ETH or US stocks solely to the Greenland event lacks sufficient basis. The core factors remain: 1. The US stock market decline stemmed from rotation within the technology sector; 2. Trump's statement reassured the market; 3. Active intervention by US and Japanese authorities stabilized the government bond market. Market participants should focus on bond market fluctuations and macroeconomic policy signals, rather than solely viewing political events as the primary cause of short-term asset prices.