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The tech circle and the capital market are boiling at the same time—Elon Musk has just held a closed-door meeting with Saudi Arabia's influential figure, Crown Prince Mohammed bin Salman, in Washington. Will this top-level dialogue, which took place at the US-Saudi Investment Forum, become a turning point for the currently sluggish cryptocurrency market?
Although both parties have not disclosed the complete cooperation details, it is generally speculated in the industry that the focus will be on AI infrastructure and new energy technology. Looking back at history, it is clear that whenever Musk casually mentions something on social media, or when a Middle Eastern sovereign fund slightly reallocates its funds, the entire crypto circle trembles. If the two sides truly reach any consensus on blockchain applications or digital asset allocation this time, it would definitely be like a long-awaited rain on a parched market.
However, thinking calmly, it is obviously too idealistic to put all hopes of a reversal on a single event. Ultimately, the trend of cryptocurrencies is still tightly controlled by major variables such as interest rate policies, regulatory attitudes of various countries, and global liquidity. Therefore, this meeting is more likely to be a positive factor in the medium to long term, and its true effects will need time to be validated.
In the short term, it is indeed possible to stimulate a wave of emotional rebound, and a technical recovery is also to be expected. However, to say that this will initiate a V-shaped reversal directly leading to a bull market? I'm afraid it still depends on whether there are substantial projects landing subsequently and whether the macro environment can cooperate.
How do you judge? Is this another round of story-telling hype, or the real starting point of a new cycle? Let's discuss in the comments.