What is noteworthy today is that several senior officials of the Fed, including Barr, Williams, and Waller, have successively delivered speeches. This kind of intensive public statement often indicates the release of policy signals.

From a market perspective, the core topic of this round of speeches revolves around the pace of monetary policy for next year. In particular, the views of Williams and Waller, two permanent voting members, usually have a direct impact on the expected pricing for the December meeting, which in turn affects the trend of risk assets.

For the cryptocurrency market, the impact path is relatively clear: if the stance leans towards easing and hints at the possibility of maintaining interest rate cuts, with a weakening dollar index, BTC and ETH may test the upper resistance levels; conversely, if there is an emphasis on inflationary pressures requiring caution, a short-term pullback may occur, but the extent may not be severe—after all, liquidity expectations are still supporting overall risk appetite. Additionally, there is the result of the 10-year treasury auction tonight; if the yield declines, the sentiment towards altcoins will be more pronounced.

Operational recommendations: In the short term, there is no need to rush into buying on the rise or panic selling; hold onto your spot positions and wait for clearer policy signals before making adjustments. Market volatility often tests patience, and leaving too early can easily lead to missing out on subsequent opportunities.