Wash did not promise a rate cut; it only said it would “not tighten.” At the same time, it repeatedly emphasized the 2% inflation target. Once the subsequent inflation data rebounds, the rhetoric can quickly shift hawkish. In addition, the situation in the Middle East could escalate at any time (Iran refuses to accept enriched uranium nuclear inspections). A short-term rebound does not change the slow path into a bearish trend—crypto market rebounds are essentially “bull traps from oversold bounces.” The Fed’s balance sheet reduction will not change anything; the market is still in a bear market. Once the AI bubble in US stocks bursts, it will bring new crises to the crypto market and siphon liquidity. “How long will a bear market see a stretch of green candles?” This rebound gives us an excellent “sniping entry point.”