With the conclusion of the Federal Reserve's interest rate meeting, the market has ushered in a new situation. The meeting results leaned hawkish, indicating that there is little possibility of interest rate cuts before the clarity of tariff policies. This result is largely in line with market expectations, hence it did not trigger significant market volatility, reflecting that investors were already prepared for this.

Although the market generally expected an interest rate cut in September, it now seems that this expectation may be difficult to achieve. However, I personally believe there will be at least one interest rate cut within the year.

In this macro backdrop, the Bitcoin market has shown relative stability. Although there was a brief pullback following Fed Chair Powell's speech, reaching the daily support level, the support level remains effective, and the market continues to operate within a turbulent range.

Although we previously advised swapping mainstream coins and small cryptocurrencies for Bitcoin, and most altcoins have indeed dropped to critical support levels, in the current market environment, I still recommend holding Bitcoin as the primary position and Ethereum as a secondary allocation. For example, cryptocurrencies like Dogecoin have retraced about 30%, dropping to the neckline support level.

In the current market environment, it is important to maintain a cautiously optimistic attitude. Closely monitor market trends and adjust investment strategies in a timely manner will be a wise move. At the same time, it is crucial to be aware of the high-risk nature of the cryptocurrency market and to implement effective risk management.