Market Review: In the early hours of yesterday, Federal Reserve officials unanimously stated that there will be another interest rate hike this year to curb the rebound of inflation. If there is another 25 basis point interest rate hike this year, the Federal Reserve interest rate will reach an astonishing 6%. This is the highest interest rate basis point since the subprime mortgage crisis in the United States in 2001. In addition to the two-year interest rate hike table and the assistance to Ukraine's military operations, the financial crisis has escalated again. This is also the main factor for the continuous decline of the US dollar index. Under this influence, the prospect of another interest rate hike has arisen, which will have a more severe impact on risky assets. The currency endorsed by the cryptocurrency market is the US dollar, so there will be significant fluctuations in the US economy. On the one hand, there is concern that under the continuous increase in interest rates, the fiscal situation in the United States may lead to a chain break. On the other hand, there is the government shutdown caused by tight finances. All of these are more severe suppressions for the cryptocurrency market. The bottom of this year is about to appear, and next year, from the perspective of the historical cycle table, given the current US fiscal situation, interest rate cuts next year are inevitable. The conditions for the return of the bull market will be opened with interest rate cuts and halving!

After yesterday's decline, the bottom of Bitcoin probed down to the 26375 level before stopping. However, the rebound after the halt was not strong, rising to a high of 26700 before being suppressed along the Fibonacci 0.236 line. In the one-hour candlestick chart, the previous candle failed to break through the 26640 line and formed a doji candle, and the current price candle subsequently fell below the 26640 line. The overall rhythm of the market is bearish again. In terms of operation, short selling at the current price is feasible, and watching for a breakthrough of the support at the 26300 level.

Compared to Bitcoin, Ethereum's trend is weaker. The daily candle has pierced the previous support level, the moving averages are in a bearish arrangement, and the RSI stochastic confidence index has fallen below 40. After yesterday's probe, the price stopped at the 1566 level, but the rebound from oversold conditions is only one-fourth of the previous day's candle. Ethereum has entered a bearish repair zone, and this type of repair will end quickly. The price line will further break through, and it is feasible to enter the market at the current price, watching for a breakthrough of the 1560 level.

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