Semiconductors led the rise, and the NASDAQ rebounded, and Bitcoin rebounded to 77,000 and faced a support test

According to Woofun AI, the US stock market showed a marked differentiation trend on the 3rd. The strong rebound in the semiconductor sector led to a recovery in the NASDAQ index. At the same time, the price of Bitcoin in the crypto asset market also stabilized around $77,500 in an attempt to fix the previous decline caused by macroeconomic uncertainty and the black swan incident in the industry.

Looking at the detailed US stock market, as of 12:24 p.m. EST, CNBC data showed that the Nasdaq Composite Index rose 246.54 points from the previous day, or 0.98%, to close at 25,410.9 points; the S&P 500 index rose 36.20 points, or 0.48%, to 7,577.60 points.

However, the Dow Jones 30 Industrial Average bucked the trend and fell by 233.38 points, or 0.45%, to 51,750.6 points. The Russell 2000 ETF (IWM.US), which is dominated by small and medium stocks, rose 1.66 points, or 0.59%, to 280.80 points. The Nasdaq index, which had fallen by more than 1% the day before, reversed due to the strong drive of the semiconductor sector. In terms of individual stocks, AMD (AMD.US) shares rose 4%, Broadcom (AVGO.US) shares rose more than 3%, and Micron Technology (MU.US), Nvidia (NVDA.US), and Intel (INTC.US) also rose nearly 3%, respectively. In contrast, Apple's (AAPL.US) stock price fell 2% due to poor profit expectations and iPad sales falling short of expectations, putting a drag on the Dow. The market's attention is also focused on the US midterm elections to be held on the same day. The analysis indicates that if the Democratic Party controls the Senate and House of Representatives, artificial intelligence-related stocks may face short-term selling pressure.

In the crypto market, data compiled by Woofun AI shows that the total market value of all digital assets was about 2.6 trillion US dollars, a slight increase of 0.13%; the 24-hour transaction volume reached 96.39 billion US dollars, an increase of 13.68%. Bitcoin accounted for 59.99%. The price rose 0.66% from the previous day to $77,589.90. After falling to $76,268 in the intraday period, it rebounded above $77,700. Among other mainstream coins, Ethereum rose 1.73% to $2,294.77; Ripple rose 3.09% to $1.28; SOL rose 0.59% to $93.30; Monero rose 4.64% to $628.55; HYPE rose 3.05% to $86.33; Wave field rose 1.28% to $0.3226; Dogecoin rose 1.57% to $0.07525; while Binance Coin fell 0.55% to $696.44.

Despite the price rebound, market pressure remains: Binance has experienced a $6.3 billion hacking attack that continues to suppress sentiment. The US Bitcoin Spot ETF (IBIT.US) recently experienced a net outflow of about US$399 million, with a cumulative outflow of more than US$1.04 billion over two days. According to CoinMarketCap data, the total amount of digital asset liquidated positions in the past 24 hours reached 363.48 million US dollars, of which long positions were closed about US$287.54 million, accounting for 79%; the amount of open contracts increased to US$32.096 billion, an increase of 11.68%, and the leverage effect increased fluctuation.

In terms of future market prospects, Shawn Schneider, an economic strategist at Fortomack Fund Management, told CNBC that the financing costs and debt burden of artificial intelligence investments may continue, but without a recession, technology stock adjustments will be limited, and the market may now rebound after the uncertainty of the midterm elections has been lifted. Digital asset analyst Mikael van der Poppe analyzed on the X platform that Bitcoin has entered the support range of $74,000 to $77,000. If maintained, it is expected to rise to $98,000 to $100,000 by the end of the year; conversely, the outlook for a bull market is damaged. Currently, the fear and greed index is 35, and it is still at the “fear” level. The market will keep a close eye on whether Bitcoin can maintain the key support line while watching the midterm election results and ETF capital flow.