In my impression, during the Fed's interest rate decision meeting in the past year, this time has the smallest volatility. On the one hand, the presidential election that just passed has greatly increased the volatility of Bitcoin. On the other hand, the Fed's 25 basis point interest rate cut is completely in line with expectations. Most importantly, Powell's answers to reporters' questions are all nonsense, almost no useful words, except that we don't look forward to future interest rates, that is, we have to decide the future interest rate level based on data. In a word, don't ask me, I don't know anything, everything will change with the economic situation.

The advantage of this is that it brings greater uncertainty to the interest rate decision in December and next year. In short, we are still in a rate cut cycle, because Powell affirmed that the current interest rate must be higher than the neutral interest rate. The liquidity is abundant gradually. For the currency circle, there is no need to guess the top at the moment, just enjoy the happiness brought by the main rising wave.