$BTC Goodbye, Powell, the curtain falls on an era

Tonight, the focus isn’t on the data released from the Federal Reserve’s interest-rate decision, but on whether the Fed’s “leadership change” is enough—and where policy is headed from here. Looking back at Powell’s 8 years in office, he improved the Fed’s communication transparency, made policy-meeting press briefings routine, strengthened policy communication with capital markets and global economies, and reduced irrational market fluctuations. He said the Fed doesn’t need to make an immediate decision on interest-rate operations right now.

And as the baton is passed to the next Fed chair, Waller could bring no small changes after taking office. In his testimony before the Senate Banking Committee last week, Waller suggested that he may no longer commit to holding press conferences after every policy meeting. Waller is also considering plans to give up the Fed’s long-standing forward-looking guidance. Going forward, if you want to trade based on headlines and the news flow, you’ll have to cross the river by feeling the stones.

From a bridge-and-transition perspective, this is definitely bearish for the crypto circle. Tonight, our thinking is still mainly centered on going short. We will keep long-term short positions unchanged. For short-term shorts, enter at the marked points. If Bitcoin breaks below 75400, then the next low to watch will be around 71500. Ethereum, in sync, will also move down to around 2220. Sticking needles in both directions is definitely unavoidable. Are there any friends here joining me tonight to take on the crew running the dog-house trade? #加密市场小幅下跌