U.S. stocks: Trump continues to propose loose policies for the tech industry, which may be more favorable for the tech sector, but it still depends on market performance. If market funds become overly concentrated in the tech sector, Trump may change his mind, as his core focus remains on contributing to the revitalization of traditional industries. Therefore, in the stock market, he and the underlying capital would prefer to see more funds flowing back into physical enterprises and the manufacturing sector, rather than allowing all funds to concentrate in the tech sector. Thus, it is very likely that after Trump takes office, there will be a phase of tech stock de-bubbling, with funds rotating from tech stocks to other sectors.

BTC: For cryptocurrency, everyone hopes Trump will take office, as he has clearly left a better optimistic expectation for the market. Of course, we must acknowledge that Trump previously provided more recognition and confidence to the crypto market. However, people should not be overly optimistic; after Trump takes office, in terms of the order of handling matters, cryptocurrency or BTC may not be the primary target. There may be verbal encouragement, but it is difficult to change the current situation in the short term. In this regard, Harris and Trump yield similar results; however, the market is speculative on expectations, and Trump provides us with more optimistic expectations, leading people to subconsciously believe that Trump will bring significant gains to crypto. This is similar to the belief that once the ETF is approved, many think BTC could rise to hundreds of thousands in the short term. In the long term, both the ETF and Trump are positive for crypto BTC, but it is hard to see significant changes in the short term. As for adding to the national strategic reserves, that may be a process that requires waiting. Of course, there is an unexpected factor here: Musk. If Musk is reused, he could bring better 'emotional value' to crypto.

Overall, Trump's presidency may not provide enough momentum for the risk markets compared to the Democrats, but it will build a relatively healthy fundamental that allows the financial risk market to develop more sustainably, including BTC. In contrast, if Harris were to take office, there might be more short-term driving force for the risk market, but one must also consider potential high-risk issues. For BTC, it may require a good and stable growth environment.

#美国大选后涨或跌？