Today's Federal Reserve meeting was generally neutral, with Powell reiterating that interest rate cuts depend on data. The dot matrix still shows two expected interest rate cuts in 2025, which is better than some pessimistic market expectations, driving the probability of a rate cut in September to rebound. Emphasizing geopolitical conflicts and tariffs does indeed push up inflationary pressures, but believing that the impact of oil prices is short-term, the US economy remains resilient, and there is no urgent need for interest rate cuts in the labor market. In terms of BTC, the turnover rate has slightly increased, mainly due to short-term investors responding to geopolitical risks, but the holding area of $93000-98000 remains stable as a rock, indicating that the market is not panicking. The chips of $100500-105000 above continue to pile up, and we need to be alert to the short-term risks brought by excessive concentration. Next, market attention will return to the evolution of geopolitical situations. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex