Recently, I noticed a phenomenon: bond yields are rising, and it seems like the stock market is also starting to decline in tandem. Previously, when Bitcoin dropped from its high to around $60,000, the stock market also adjusted simultaneously. Now that BTC has rebounded to about $74k, the stock market's performance still appears somewhat lagging.

It feels like the logic behind this stock market decline is different from before. Usually, rising bond yields would first impact growth stocks and tech stocks, but this time even traditional blue chips haven't escaped. It seems like there's significant capital outflow from the stock market, somewhat like chasing the previous Bitcoin decline.

The current question is: will bond yields continue to rise? If so, the stock market might face further pressure. Conversely, if bond yields stabilize, there could be a rebound opportunity for stocks. Overall, the recent increased correlation between the stock market and the crypto market is noteworthy and worth continued observation.