At 00:35 AM, 72-year-old Powell is set to take the stage to speak again. The Fed is relatively united internally, except for Milan, who is seen as part of Trump's camp and appears somewhat out of line; most others have a consistent stance. This chairman, whose term ends in May next year, has always been tense about the U.S. economy, and it hasn't been long since the last rate cut of 25 basis points, making this statement even more critical.

The market is currently in a consolidation phase, appearing calm on the surface, but with undercurrents running deep. On one side, whales are quietly accumulating BTC and related ETFs, while on the other, various genuine and fake news are creating smoke screens. Considering that Powell will soon step down, and given that the previous dot plot has already shown hawkish signals, the hope for two more rate cuts this year seems quite slim.

What is most distressing is that most people are waiting for a rebound after a crash to seize opportunities, but this kind of consensus is often the most dangerous. If Powell hints at "not lowering interest rates for now" or even reveals a tendency to raise rates tonight, the market is likely to face another bloodbath. Everyone should set their stop-loss orders; if you really can't bear the losses, just admit defeat and exit. After all this turmoil, it's really exhausting 😭.