Let's talk about the sudden drop in the Fed's interest rate cut expectations. The probability of the first interest rate cut in June has fallen below 50%. Powell's "three interest rate cuts this year" is probably going to be questioned next.

Most of us have several misjudgments about the market:

1. We believe that inflation will soon return to 2%, and we still don't know enough about the resilience and sustainability of inflation.

2. We underestimate the possibility of an economic recession, and we still don't understand the current situation of the US labor market enough.

In the current currency circle, we only need to focus on one indicator, which is the capital inflow of the big cake spot ETF. Other indicators can be said to be paper tigers. As long as there is no major reversal in this inflow channel, the big cake will not perform too badly. #BTC大饼减半，