Sou Hu Cai Jing·2025-11-05 03:40Core Insights - The article discusses a significant market downturn on November 4, where major indices and cryptocurrencies experienced substantial losses, indicating a potential shift from speculative behavior to a more rational market approach [5][6]. Market Performance - The Nasdaq index fell by 486 points, with Nvidia's market value dropping by 1.4 trillion yuan, Tesla declining over 5%, and Intel plummeting by 6% [5]. - Bitcoin fell below $100,000, leading to widespread liquidations with 400,000 accounts affected and $1.799 billion lost [5]. Investor Behavior - The downturn was influenced by profit-taking from investors in AI stocks like Palantir, despite its strong performance, and short-selling actions by notable investors such as Michael Burry targeting Nvidia and Palantir [5]. - High-profile executives from Goldman Sachs and Morgan Stanley warned of a potential market pullback of 10% to 20% in the coming year [5]. Cryptocurrency Market - The cryptocurrency market faced severe declines, with Bitcoin and Ethereum experiencing significant drops, exacerbated by a tightening liquidity environment [6]. - Despite the turmoil in global markets, Chinese concept stocks like Baidu and Vipshop showed resilience, with Baidu rising over 3% [6]. Market Outlook - The article suggests that the current market conditions may present opportunities, emphasizing that true confidence is maintained even amidst market volatility [7].