Everyone is looking forward to Wash's speech tonight, it is quite poignant, Old Cui's investment journey can be considered alongside Powell, and it feels a bit uncomfortable suddenly switching to Wash; without further ado, let's get to the point, before the speech the cryptocurrency market once again surged to new heights, seemingly paving the way for Wash's speech tonight, and everyone must not think that there will be significant positive news tonight. Analyzing the July data, the U.S. July PCE rose 3.7% year-on-year, and the core PCE rose 3.3% year-on-year, both up 0.2% month-on-month. PCE is an inflation indicator that the Federal Reserve focuses on, and currently, the overall inflation rate is still significantly above the Federal Reserve's target of 2%. Additionally, yesterday's U.S. initial jobless claims of 203,000 were lower than expected, reinforcing expectations for sustained high interest rates. Various data indicate that wanting to reduce interest rates in the short term is somewhat wishful thinking, but the U.S. government's repurchase of $2 billion in treasury bonds beforehand is an action paving the way for rate cuts. Reflecting on Wash's speech when he won, maintaining the 2% target will be his pursuit, and Old Cui's estimate is unlikely to match the hawkish or dovish speeches that everyone speculates; it is very likely there will be no stance at all.

One of the most frightening points is that if everyone thinks the morning's increase is a huge positive news, if the evening's speech doesn't match, it could very likely trigger a sharp drop. However, from the data perspective, BlackRock has bought 27,722 BTC and 385,633 ETH for eight consecutive days, and the competition among capital is still ongoing; the current trend makes Old Cui feel that MicroStrategy and BlackRock are undergoing a shift of strongholds, and only with enough chips in BlackRock's hands can there be another round of market trends. This is also what Old Cui mentioned earlier, as long as capital is still buying, everyone can conduct purchase operations at any time. It is an old saying, this does not mean that a bull market is about to arrive, the biggest resistance the financial circle faces lies in whether the Federal Reserve will continue to publicly insist on keeping inflation suppressed at 2%. The side insisting on the bursting of bubbles certainly does not only exist in the cryptocurrency sector; the first to burst will definitely be technology and AI, and we can look forward to different answers tonight, desires should not be too high.

Old Cui concludes: Old Cui's judgment on the trend aspect will basically not have major problems, and we will see the results tonight. Old Cui also firmly believes that a bull market will come again, as it also serves as a clear endorsement for the bill, prior to this, it is unlikely to return to the price of the last bull market. Especially at this stage, with Bitcoin prices maintaining above 80,000, Old Cui is still somewhat worried about how long this price can hold, which still needs time to verify. After tonight's speech, there will very likely be a different market trend, the current price is certainly not suitable for spot purchases, spot can wait, those needing to recover from contracts must seize this opportunity, this growth pattern will not last long, and current prices have already reached the critical point for many to recover. Additionally, with the weekend approaching, there are only three days left for this week to officially end, everyone must pay attention to tonight's speech, perhaps the opportunity to recover is today!

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