According to TechFlow, on January 9, according to 4E monitoring, the market is weighing inflationary pressures and expectations of interest rate cuts. U.S. stocks fluctuated all day on Wednesday, with the S&P Dow rising slightly and the Nasdaq falling slightly. Large technology stocks rose and fell, with Tesla closing up 0.15% and Nvidia turning from rising to falling. The share prices of crypto concept stocks Coinbase and MicroStrategy fell 1.6% and 2.85%, respectively. The crypto market plunged again at midnight. Bitcoin once hit a new low of $92,500 this year, and Ethereum barely held $3,200. The situation did not improve until the morning, and the price slowly rose. At the time of writing, Bitcoin was at $94,454, down 2.75% in 24 hours, and Ethereum was slightly stronger at $3,334, down 1.81% in 24 hours. When the market fell in the past two days, the DeFai concept coin, that is, the DeFi+AI Agent concept narrative, rose against the trend, and funds chased it obviously. In terms of foreign exchange, the US dollar index rose for two consecutive days, the British pound fell 0.9% to its lowest level since April last year, and the Japanese yen fell to its lowest level in nearly six months; the strengthening of the US dollar put pressure on international oil prices to fall by more than 1%; the employment data was lower than expected, pushing spot gold up about 0.5% to a nearly four-week high. The minutes of the Federal Reserve's December meeting showed that almost all participants were concerned about the upward risks of inflation and the possible impact of Trump's tariff plan, indicating that the Federal Reserve is at or close to a point where it is appropriate to slow down the pace of easing. The market expects that interest rates will remain unchanged at the meeting at the end of this month, and the first rate cut may occur in June.