#密码资产动态追踪 Recently, I took a closer look at some of the statements made by Federal Reserve officials, and there are quite a few hidden details in the nuances. To be straightforward, the current interest rate environment is "under too much pressure," which is dragging down economic growth, and there are even voices suggesting that the rate cuts in 2026 could exceed 100 basis points. This clearly differs from the views of officials with other policy stances.

What does this reflect? Internally, the Fed hasn't fully aligned yet. In the coming weeks, employment data (such as ADP, non-farm payrolls, etc.) will become key indicators. If the data continues to be strong, rate cuts may be pushed further back; but once signs of weakness appear, the "dovish expectations" will grow louder.

For us, this policy divergence itself is a signal. In the short term, the market will definitely be more easily frightened, with data fluctuating up and down—be mentally prepared. However, combined with the on-chain information I track (large transfers, wallet activity, etc.) and news, the logic remains unchanged: what the market is waiting for is still the true inflection point of liquidity expectations.

As long as subsequent employment and inflation data provide reasons for the central bank to "change course," the medium-term support for crypto assets will surface. Once there are signs of liquidity easing, the market won't be boring.

My judgment has always been consistent—keep an eye on data and news, and continue tracking. Short-term volatility is inevitable, but the overall opportunity is brewing. Stay steady, and let’s watch together. $ETH