According to Woofun AI, the U.S. stock market showed significant divergence on the 3rd, with a strong rebound in the semiconductor sector driving the Nasdaq index higher, while in the crypto asset market, Bitcoin also stabilized near $77,500, attempting to recover losses caused by macro uncertainty and industry black swan events.
In terms of detailed U.S. stock performance, as of 12:24 PM Eastern Time, CNBC data showed the Nasdaq Composite rose 246.54 points, or 0.98%, to 25,410.9; the S&P 500 gained 36.20 points, or 0.48%, to 7,577.60. However, the Dow Jones Industrial Average fell 233.38 points, or 0.45%, to 51,750.6. The Russell 2000 ETF (IWM.US), which tracks small- and mid-cap stocks, rose 1.66 points, or 0.59%, to 280.80. The Nasdaq, which had dropped more than 1% the previous day, reversed course thanks to the powerful boost from the semiconductor sector. Among individual stocks, AMD (AMD.US) shares rose 4%, Broadcom (AVGO.US) shares climbed more than 3%, and Micron Technology (MU.US), NVIDIA (NVDA.US), and Intel (INTC.US) each gained nearly 3%. In contrast, Apple (AAPL.US) fell 2% due to weak profit expectations and lower-than-expected iPad sales, weighing on the Dow.
Market attention also focused on the U.S. midterm elections held that day, with analysis suggesting that if Democrats win control of both the Senate and House, AI-related stocks could face short-term selling pressure.
In the crypto market, data compiled by Woofun AI showed the total market capitalization of all digital assets stood at approximately $2.6 trillion, edging up 0.13%; 24-hour trading volume reached $96.39 billion, up 13.68%. Bitcoin's dominance was 59.99%, with its price up 0.66% from the previous day at $77,589.90, having dipped to $76,268 intraday before recovering above $77,700. Among other major coins, Ethereum rose 1.73% to $2,294.77; Ripple gained 3.09% to $1.28; SOL rose 0.59% to $93.30; Monero climbed 4.64% to $628.55; HYPE advanced 3.05% to $86.33; Tron rose 1.28% to $0.3226; Dogecoin gained 1.57% to $0.07525; while Binance Coin fell 0.55% to $696.44.
Despite the price rebound, market pressure remains: Binance suffered a $6.3 billion hack that continues to weigh on sentiment, and the U.S. spot Bitcoin ETF (IBIT.US) recently saw approximately $399 million in net outflows, with cumulative outflows exceeding $1.04 billion over two days. CoinMarketCap data showed total digital asset liquidations over the past 24 hours reached $363.48 million, of which long liquidations accounted for about $287.54 million, or 79%; open interest rose to $32.096 billion, up 11.68%, with leverage amplifying volatility.
Regarding the outlook, Sean Schneider, economic strategist at Futomark Fund Management, told CNBC that financing costs and debt burdens for AI investments may persist, but without a recession, tech stock corrections will be limited, and markets could rebound once midterm election uncertainty is removed. Digital asset analyst Mikael Vandepoppe said in an analysis on X that Bitcoin has entered a support zone of $74,000 to $77,000, and if it holds, it could rise to $98,000 to $100,000 by year-end; otherwise, the bull market outlook would be damaged. The current Fear and Greed Index stands at 35, still at a "fear" level, and the market will closely watch whether Bitcoin can hold key support while monitoring midterm election results and ETF fund flows.
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