Tonight is destined to be a sleepless night.

At 3 a.m., everyone's eyes will be fixed on Powell's mouth—he casually utters a few words, and the entire market chart starts to fluctuate wildly. This is the magic of the Federal Reserve; every word can be scrutinized under a magnifying glass by the market.

If老鲍 today holds a stance and says "inflation hasn't cooled down yet" "economic data needs observation," and doesn't mention interest rate cuts at all, it basically dampens market sentiment. Once this hawkish tone appears, cryptocurrencies are likely to suffer. Even more so, if he casually says "employment data is still quite strong," Bitcoin might immediately give you a big bearish candle.

But if the tone shifts, even vaguely implying "policy may have room for adjustments," digital currencies can immediately take off.

What's interesting is that former Trump didn't hold back recently—he directly called for "large-scale rate cuts" and even dropped an indirect hint: anyone supporting aggressive rate cuts would have a better chance to sit in the next Federal Reserve chair position. Such words, how can the market not get excited?

Wall Street now has a joke that pokes fun at how neurotic traders can be: if Powell starts with "Good afternoon," go long; if he switches to "Hello everyone," get ready to short.

Anyway, tonight, just watch the market and wait.