Last night, Powell's words shocked over 200,000 people. They thought the storm had passed, but unexpectedly, the shorts struck back with a vengeance. The Federal Reserve has no intention of participating in any plans for the government to hoard large amounts of cryptocurrency.

In addition, the Federal Reserve's meeting lowered the interest rate cut expectations for next year. As a result, the cryptocurrency market has experienced four rapid declines already, and today marks the fifth.

It can be said that the previous four rapid declines consumed a significant amount of buying power, so after this rapid decline, there hasn't been much buying seen on the market; instead, there has been a downward trend after sideways movement, which essentially buried the funds that were trying to bottom out.

In the short term, it will be quite difficult to return to a strong position. The overall market enthusiasm was too high for a while, and barring any unexpected events, the market should be rapidly completing the strongest cleaning before a potential altcoin bull market, aided by the knife handed over by Powell. However, a greater wealth effect is about to arrive after this wave; as long as we don't perish, we will ultimately stand on the highest stage.

Operational advice: do not blindly try to bottom out, do not follow the trend for buying and selling, focus on mainstream assets, avoid high leverage, manage positions well, observe more and act less, and follow the trend.