Powell's speech was not dovish; he emphasized that inflation is controllable but expressed concerns about labor and GDP slowing down. As a result, the market has raised expectations for a rate cut in September. My understanding is that the Fed's rate cut is more about preparing for a potential recession, so it is wiser to wait and see rather than forcefully holding positions.

Returning to $BTC, the turnover rate has slightly increased, with some short-term bottom fishers exiting, but overall selling pressure is not significant, and market sentiment remains relatively stable. The $112,000 level is still solid and serves as a consensus support level. The key will still be the feedback from U.S. investors next week; if sentiment remains stable, opportunities still exist.

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