Opinion: The reason why U.S. stocks and Bitcoin did not rise but instead fell after the Federal Reserve's rate cut this month lies in the changes in the shape of the U.S. Treasury yield curve before and after the rate cut. AI Summary: 0xNing analyzed that after the Fed's rate cut, U.S. stocks and Bitcoin declined due to changes in the shape of the U.S. Treasury yield curve. The rate cut policy will influence the trend of global financial markets; overvalued assets face pressure, while dividend stocks in the U.S. stock market will undergo valuation correction. Odaily Planet Daily reports that 0xNing posted on the X platform that the reason why U.S. stocks and Bitcoin did not rise but instead fell after the Fed's rate cut this month is due to changes in the shape of the U.S. Treasury yield curve before and after the rate cut. The Fed's recent "triple move"—a 25 basis point rate cut, initiation of short-term bond QE, and guidance of one rate cut expected in 2026—has finely tuned the steepening process of the Treasury yield curve. This "bull steepening" pattern will dominate the trend of global financial markets from now until the first quarter of next year. Overly optimistic expectations of rate cuts that have led to overvaluation of assets such as U.S. stocks AI stocks, and Bitcoin will continue to be under pressure, while dividend stocks (banking and industrial stocks) in the U.S. stock market will enter a valuation correction cycle.