Actually, I'm not sure if my view is correct, but I'll briefly share it. Last night, the market reacted strongly to Powell's speech, leading to a sharp rise in cryptocurrencies. However, I believe this surge is actually a false signal. The expectation of rate cuts has already been priced in for a month, and the market has absorbed this expectation. The current rise is a false breakout, and there will likely be significant volatility before rate cuts are confirmed. The uncertainty of geopolitical issues, the possibility of Japan continuing with rate hikes, the upcoming non-farm payroll data, and the election could all contribute to this. Personally, I think the market might bottom out again before the election, but in the long term, I remain bullish.

interesting take! yeah, i think you're on to something with the false breakout idea. let's see how it all plays out. 🤞