Today, I noticed that gold has dropped nearly 2%. My personal understanding is that after yesterday's GDP data was released, the market's expectations of a U.S. economic recession were temporarily dispelled. After all, domestic demand in the first quarter was still quite strong. More importantly, the focus might shift to the second quarter's GDP, as we cannot rule out that the strong domestic demand was partly due to "preemptive tariff concerns." The drop in gold prices, along with the rise in U.S. Treasury yields, suggests that investors' risk appetite is on the rise. This is especially evident as the earnings reports for $META and $MSFT released early this morning were positive, helping U.S. stocks continue to climb. Although Bitcoin is still hovering around $95,000 for now, the overall market sentiment is quite positive. In summary, the current pullback in gold prices, the rise in U.S. Treasury yields, the strength of U.S. stocks, and Bitcoin's wait-and-see stance collectively indicate an increase in risk appetite. However, whether this trend can continue will depend on confirmation from this Friday's non-farm payroll data. If employment and wages are strong, Bitcoin may see a short-term breakout opportunity. Conversely, caution is needed for potential market repricing volatility. This post is sponsored by @ApeXProtocolCN | Dex With ApeX.