On April 3, Fidelity FBTC had a net inflow of US$117 million, and Grayscale GBTC had a net outflow of US$75 million

The European Central Bank will announce its interest rate decision at 20:15 Beijing time on Thursday, and the market generally expects the bank to raise interest rates by 25 basis points.

The buffer for risk in the US stock market is running thin. JPMorgan warns that the equity risk premium of the S&P 500 has fallen to 2.1%, its lowest level since 2002, more than 100 basis points below its historical average. The era of low premiums hides three major risks: a systemic increase in the stock market's sensitivity to interest rate shocks; global investors have overweighted equities to a twenty-year high, facing rebalancing pressure; and the strengthening positive correlation between stocks and bonds is causing risk parity strategies to continuously fail. If real interest rates rise further, this silent repricing of valuations may erupt violently.