[Opinion: The reason why U.S. stocks and Bitcoin ($BTC) fell instead of rising after the Fed's rate cut this month lies in the changes in the shape of the U.S. Treasury yield curve before and after the rate cut] Odaily Planet Daily reports that crypto researcher 0xNing0x posted on the X platform, stating that the reason U.S. stocks and Bitcoin ($BTC) fell instead of rising after the Fed'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. This time, the Fed's monetary policy 'triple move'—a 25 basis point rate cut, initiating short-term bond QE purchases, and guiding expectations for one rate cut in 2026—has finely adjusted the steepening process of the U.S. Treasury yield curve. This 'bull steepening' shape will dominate the global financial market trends from now until the first quarter of next year. Overpriced assets overly optimistic about rate cut expectations, such as U.S. AI stocks and Bitcoin ($BTC), will continue to face pressure, while U.S. dividend stocks (bank stocks and industrial stocks) will enter a valuation recovery cycle.