The latest news about the macroeconomic situation:

1. Regarding the emergency rate cut, the Fed's "megaphone": The threshold for emergency rate cuts is very high, and the Fed will debate whether to cut interest rates by 50 basis points in September.

2. Regarding the situation in the Middle East: The White House said in the early morning that it does not believe that Iran or Hezbollah's response to Israel has begun;

3. Regarding the US recession: The GDPNow model predicts that the US GDP growth rate in the third quarter will be 2.9%, which was previously expected to be 2.5%. Goldman Sachs CEO Solomon: The recent stock market adjustment may be healthy. The Fed will give up the emergency rate cut and does not expect a recession in the United States.

4. Regarding the Japanese economy: Shinichi Uchida, deputy governor of the Bank of Japan, said that if the financial market is unstable, the Bank of Japan will not raise the policy interest rate.

At present, the crisis or negative news has been basically eliminated. From the market perspective, it takes time to repair. After the repair, the market will automatically return to the trend before the negative news. In other words, any sudden positive or negative events will not affect or change the long-term trend of the market. This is crucial.

The market has gone through too many negative events, adjustments and repairs, such as Mtgox, the German government selling coins, local war conflicts, and the Bank of Japan raising interest rates. After many negative events, the market still resisted the risk and the bottom signal was finally confirmed.

The market is currently repairing and adjusting. The short-term panic selling needs time to repair. After the repair, the market will sprint upward again. There is no doubt that the encryption trend has come. It has been repeatedly emphasized that all we can do is stay away from leverage and crazy buying of low-priced chips to wait for the rise.