The U.S. stock market still has a significant impact on cryptocurrencies. Last night after 6:00 PM, major U.S. stocks saw a noticeable drop, and Bitcoin was directly dragged down from 74,000 to 71,000. This decline also spread to the altcoin market. However, the ripple effect of this drop was very short-lived. By this morning, prices had already fallen to levels lower than yesterday afternoon. Despite Powell's hawkish remarks warning about the inflation risks brought by regional conflicts, the Fed might not cut rates this year. However, the market had already priced in this scenario in advance, so the rate decision and speech were not surprising. As we approach the quarterly settlement week, if there are no major impactful events, Bitcoin might enter a low-volatility market phase.