记者丨易妍君 编辑丨包芳鸣 沪指3600点拉锯战正酣，杠杆资金加速进场。 Wind数据显示，截至7月29日，A股融资余额达到1.97万亿元，续创2015年7月3日以来新高。同时，自7 月21日以来，A股单日融资买入额占A股成交额的比例连续7个交易日突破10%。 事实上，不只是杠杆资金，机构资金也释放出积极信号。 受访人士向21世纪经济报道记者指出，近期A股资金面呈现多元积极变化。 一方面，6—7月以来市场成 交量持续走高、被动产品新发不断发力、主动权益类基金发行量也在增长；同时，产业资本层面，减持 规模较上月大幅下降约四成，市场面临的减持压力明显减轻。另一方面，财政部针对保险资金推出一系 列长周期考核举措，有望强化险资权益资产配置的稳定性，并进一步加速险资入市的进度。 展望后市，有机构人士指出，核心指数有望挑战年内高点，但过程可能并非一帆风顺，短期需密切关注 政策细节的落地速度、经济数据的实际验证情况以及外部环境变化。 多路资金入市 今年7月，A股市场持续活跃，融资余额水涨船高。 据Wind统计，7月21日，融资余额自今年4月3日以来首次重返1.9万亿元之上。同时，截至7月29日，融 资余额连续7个交易日增长 ...

Core Viewpoint - The A-share market is experiencing a surge in leveraged funds, with financing balances reaching a new high, indicating increased investor optimism and risk appetite [1][4][5]. Group 1: Market Activity and Fund Flows - As of July 29, the financing balance of A-shares reached 1.97 trillion yuan, marking a significant increase and reflecting a bullish sentiment among investors [1][4]. - The proportion of daily financing purchases to total A-share trading volume has exceeded 10% for seven consecutive trading days, signaling heightened market risk appetite [6][8]. - Institutional funds are also showing positive signals, with a notable increase in the issuance of equity public funds since June, indicating a recovery in the equity market [2][7]. Group 2: Investor Sentiment and Market Dynamics - The continuous growth in financing balances suggests that investors are willing to leverage their positions, which may lead to increased market volatility if adjustments occur [5][11]. - The reduction in the scale of share reductions by industrial capital by approximately 40% compared to the previous month indicates a decrease in selling pressure on the market [2][8]. - The overall market is characterized by active trading, with daily trading volumes remaining high and turnover rates exceeding 3%, reflecting a phase of active speculation [8][10]. Group 3: Future Outlook - Analysts expect core indices to challenge their yearly highs, although the path may not be smooth, necessitating close attention to policy implementation and economic data [2][11]. - The ongoing policies aimed at stabilizing growth and expanding domestic demand are likely to support the market, with expectations of improved macroeconomic data in the second half of the year [12]. - The market's long-term upward trend is supported by factors such as declining risk-free rates and improved investor risk appetite, although external risks remain a concern [11][12].

21世纪经济报道记者易妍君 报道 沪指3600点拉锯战正酣，杠杆资金加速进场。 Wind数据显示，截至7月29日，A股融资余额达到1.97万亿元，续创2015年7月3日以来新高。同时，自7 月21日以来，A股单日融资买入额占A股成交额的比例连续7个交易日突破10%。 "自去年9月24日以来，A股市场融资余额、成交量等指标迅速提升并保持在高位。杠杆资金及交投活跃 度的情况反映出，当前市场环境下投资者风险偏好的明显提升。种种迹象表明，现阶段A股市场面临的 情绪环境相对过去几年已经出现了较大转变。"民生加银专精特新智选混合发起式基金经理周帅向21世 纪经济报道记者指出。 排排网财富研究部副总监刘有华谈道，融资余额增加意味着杠杆资金的市场情绪高涨。同时，这也在一 定程度上说明，市场的上涨趋势得到了杠杆资金的认可，可能预示着资金正在加速进场。不过，融资余 额过高也可能是市场过热的信号，一旦市场出现调整，高杠杆投资者可能面临较大亏损压力，加剧市场 波动。 值得一提的是，截至7月29日，单日融资买入额占A股成交额的比例连续7个交易日突破10%。 事实上，不只是杠杆资金，机构资金也释放出积极信号。 受访人士向21世纪经济报道 ...

Group 1: Current Price Trends - Bitcoin has reached a historical high of approximately $109,685.05, marking a 2.76% increase from the previous day, with a trading range of $106,109.5 to $109,450.5 [6] - Bitcoin's market capitalization has surpassed $2.15 trillion, solidifying its status as a major asset class [6] - Ethereum is currently priced around $2,524.10, with a 24-hour increase of 0.9%, indicating a relatively stable performance compared to Bitcoin's surge [13] Group 2: Market Catalysts and On-Chain Data - The regulatory environment in the U.S. is improving, with expectations of clearer regulations during Trump's presidency and progress in stablecoin legislation, providing positive support for the cryptocurrency market [6] - Institutional investors, such as Strategy, continue to accumulate Bitcoin, purchasing 7,390 BTC at an average price of $103,498, totaling approximately $764.9 million [6] - On-chain activity remains robust, with over 790,000 active Bitcoin addresses, reflecting sustained trading activity [6] Group 3: 24-Hour Market Dynamics - The total liquidation amount in the past 4 hours reached $118 million, with short positions suffering significantly more than long positions [6] - The funding rate for BTC/USDT perpetual contracts is at 0.0054%, indicating a dominant bullish sentiment in the market [4] - Ethereum's perpetual contract funding rate is near zero, suggesting that the current trend is primarily driven by spot buying rather than leveraged trading [14] Group 4: Operational Strategies - For Bitcoin, entry conditions are set above $109,000, with primary targets at $112,000 and $115,000, and strict stop-loss at $106,000 [7] - For Ethereum, entry conditions require a breakout above $2,600, with targets set at $2,700 and $2,800, and a stop-loss below $2,500 [14] - Investors are advised to gradually reduce positions in the $110,000-$111,000 range to lock in profits while maintaining some exposure for potential further gains [13] Group 5: Key Events and Macro Environment - Upcoming events include a potential discussion on cryptocurrency policy at the "Trump Dinner" on May 22 and the Federal Reserve's announcement regarding monetary policy framework changes [19] - The market is closely monitoring inflation trends, with predictions of a rise in U.S. inflation starting in May, which could influence the Federal Reserve's monetary policy [19] - The overall market sentiment remains cautiously optimistic, with a recommendation to maintain a portfolio allocation of 50-70% in cryptocurrencies while being prepared for potential adjustments [19]

今天市场走强，很多人在盘前就开始讨论节后的涨跌，但大多数人的落脚点都错了，下面我给大家重新 捋一捋！请各位重点关注文末内容，这部分凝聚了文章的核心要点，务必牢记。 一，能不能继续涨？ 这段时间以来，很多人都会觉得很奇怪，明明咱们早就宣布要提振内需了，但却没有看到强有力的实质 性正策落地呢？ 再去看看RMB，即便美元大幅贬值，可RMB贬得更多。而老美稍微软一点，RMB就顺坡下驴升值了。 RMB贬值是为了大国博弈，未来，一旦中美谈妥了，RMB就会开启快速升值的道路，然后内需正策就 会一个接一个的上。 所以，前两天很多人就在猜A股会不会涨，但其实如果把A股有史以来所有节假日后的涨跌幅进行统 计，就会发现，基本上就是五五开。 普涨的市场我们都见过，但普涨过后能持续上涨的个股真的多吗？真的都能持续上涨？显然不会！ 所以，大家不要惯性思维觉得今天市场是普涨，那么接下来也没有问题了。 就像今年年初由DS带动的那波行情，为什么有的能持续上涨，有些却就涨几天便开始下跌？ 春节后市场就是一波普涨行情，现在也是如此，当时很多人看到几乎所有股票都在上涨，于是盲目进 场，总觉得只要进场就一定能赚钱。 刚开始出现小幅调整的时候还不以为然 ...

看着市场天天横盘，又有GJD护盘，不少股民直接躺平不动了。 可别大意！懂王那边又要搞大动作，市场里藏着的风险和机会，多数人压根没察觉！ 今天就带大家深挖这些关键信号，文末还有超实用的股市数据，不看真的亏！ 一，懂王的压力 懂王又要搞大事情！从现在起，老美ZJH、存款保险公司、期货交易委员会这些部门想出台新规，都得他拍板。 连一向和他不对付的美联储也被卡脖子，虽然还能管货币正策，但银行监管规则得交白宫审查。 他为啥这么着急？全是经济压力给逼的！CNBC调查显示，55%的人都不满意他的经济政策。科技行业项目停摆、钱也不敢投，供应链乱成一 锅粥。 美联储更是直接下调GDP增速，从2.1%跌到1.7%，经济衰退警报已经拉响。 纽约联储预测，到8月美国经济衰退的可能性超过六成！这边衰退警报拉响，那边财政状况也一团糟。 老美75个大城市里，53个都深陷财正赤字泥潭，联邦正府债务更是在2025财年突破20万亿美元大关，经济压力大到爆表！ 老美的专家们急得跳脚！直接发文开炮，痛批关税正策根本没有经济道理，完全是在把经济往衰退的火坑里推。 二，散户要怎么办？ 老美经济内忧外患，资金正疯狂往外跑！高盛数据显示，非老美投资者一口气 ...