Nick Timiraos, the "Federal Reserve mouthpiece," said that after the release of the employment report last Friday, JPMorgan Chase and Citigroup gave up their call for a rate cut in July. Most sell-side economists and other professional Fed watchers now expect the Fed to cut rates once or twice this year in September or December.

The latest U.S. non-farm report has poured cold water on the market's enthusiasm, and the crypto market has accelerated its decline, especially Bitcoin has broken down continuously. Although Ethereum's spot ETF has been approved, it cannot support its accelerated decline. Tomorrow night, the U.S. CPI data will be released and the Fed's interest rate meeting will be held. In fact, the Fed's rate cut is a mystery. It seems to have released something, but in the end, nothing was released. However, the crypto market has done enough to adjust in advance. It is expected that countless people have cut their losses after the recent adjustment. This forced short trend has also laid the groundwork for the super rebound in late June. KP92877 is retained, and attention is paid to changes in the news.