$ALCH$AAPL KuKe 15-Year Buyback Exceeds $880 Billion in Treasury Shares—This Is Not a Financial Tweak; It’s One of the Core Engines of the U.S. Stock Market’s Decade-Long Bull Run. In a low-interest-rate era, Apple uses near-zero-cost debt financing to repurchase shares, propping up earnings per share almost by force and reshaping shareholder returns. But the fuel for this logic chain is the Federal Reserve’s easing and an oversupply of U.S. dollar liquidity. Now the winds have changed. Dow futures fall and tech stocks are sold off; Anthropic leads calls for AI to slow down; with the Fed’s upcoming policy meeting, market expectations for the rate path are being repriced. Berkshire has underperformed the S&P by about 10 percentage points this year. Historically, such divergences usually don’t last—suggesting funds are rotating from overvalued tech toward value and defensive plays. If the U.S. dollar index strengthens, global liquidity tightens, and risk assets will be hit first. The transmission path is clear: a pullback in U.S. tech → lower institutional risk appetite → BTC, as a high-beta risk asset, comes under pressure. BTC is currently at $76,670, down 0.71% over the past 24 hours, trading in a high-range consolidation. If the Nasdaq continues to weaken, BTC will likely test lower support, and the altcoin season will be pushed back even more—capital will only spill over once BTC stabilizes. My view: bearish in the short term—don’t chase longs before the Fed meeting. The Apple-style buyback fairy tale is built on cheap dollars. Once rate expectations turn hawkish, the correlation between U.S. stocks and crypto will amplify to the downside again. BTC $76,670 isn’t a bottom—be prepared for volatility. Where do you think this tech pullback will take BTC? Drop your target zone in the comments.