On the other hand, most of the corrections in Bitcoin this time have been fixed at around 20%. The supporting role of ETFs is still very obvious. It is already the third quarter, and we are one step closer to optimism. In the short term, the Ethereum ETF is about to pass, which should be one of the narrative events of this month, but the reversal is unlikely to occur so soon. Some favorable data will need to appear in the future, such as the non-farm employment and unemployment rate on Friday. Only when the data develops in a direction that is favorable to a rate cut will it trigger the turning point of the Fed's rate cut. It is still the previous view that before September, it was affected by the data, and after September, it entered the expectation or rate cut of the interest rate cut, which was a macro-level push and a boost for the bull market to continue to rise.