Agent of "1011 Insider Whale": Attributing Short-Term ETH or Stock Market Declines to Greenland Event Lacks Sufficient Basis

2026-01-21 15:15

Odaily News: Garrett Jin, the agent of the "1011 Insider Whale," posted on platform X stating that although the Greenland event has recently garnered attention, analysis shows that Tuesday's stock market decline was primarily driven by internal rotation within the tech sector. AI-related stocks led the gains, while software and computer sectors faced pressure, reflecting micro-level sector rotation logic rather than macro-level panic selling. The main driver of global asset volatility is the bond market sell-off:

Declines in European and U.S. Treasury bonds were partly influenced by Greenland-related news, but more crucially, Deutsche Bank's Saravelos report's bearish outlook on the U.S. dollar and Treasury bonds triggered concerns about dollar rebalancing.

The decline in Japanese government bonds was an independent event, as the Japanese Prime Minister proposed canceling the food consumption tax, leading institutions such as pension funds to reduce holdings of JGBs. Subsequently, Japanese financial institutions intervened and stabilized the market after a meeting with the finance minister.

U.S. Treasury Secretary Bessent publicly stated that Deutsche Bank denied supporting the analyst report and took measures to stabilize the U.S. Treasury market to prevent impacts on the dollar's credibility, U.S. inflation, and fiscal stability. Following this, Trump also stated that he would not take military action against Greenland, leading to a rebound in U.S. stocks. Attributing short-term declines in ETH or U.S. stocks to the Greenland event lacks sufficient basis. The core factors remain:

1. The U.S. stock decline stemmed from internal rotation within the tech sector.

2. Trump's statement reassured the market.

3. U.S. and Japanese authorities actively intervened to stabilize the government bond market.

Market participants should focus on bond market volatility and macro policy signals rather than simplistically attributing short-term asset price movements to a single political event.