PANews reported on October 9 that Singapore's crypto investment institution QCP Capital issued a statement saying: "Chinese stocks continued to fall today. The China A50 Index fell another 7% today and has fallen 17% from its recent highs. The lack of fiscal stimulus measures has severely hit investor sentiment. However, the US stock market has not been affected by developments in Asia. Despite the uncertainty of the US election and the exclusion of expectations of a rate cut in 2024 after the non-farm payrolls report, US stocks continue to climb to new highs. The bond market currently expects two rate cuts in 2024, compared with three rate cuts just a week ago. Despite the growing unrest in the Middle East and domestic challenges related to the US election, the US stock market continues to climb steadily, which is This reaffirms his view that risk assets are about to rebound. In the cryptocurrency market, the Meme coin market was observed to surge with the increase in on-chain and off-chain trading activities. Traders took advantage of the latest popular Meme coins to hype and leverage, causing some bubbles in the market. The perpetual contract funding rate on exchanges such as Deribit and Binance has also risen in the past two weeks, indicating that short positions are decreasing or long positions are increasing. This, together with the bubble in the Meme coin market, makes him vigilant about possible downside moves, because this often happens when the market is bullish and investors are least defended. ”