🔥The four major variables in the crypto market ignite volatility! Interest rate cut expectations + tariff dividends + change of leadership at the Federal Reserve + ETH hard fork, Powell's speech tonight will determine the short-term direction!

1. The expectations for interest rate cuts are going wild! Last week, the market's probability of a rate cut skyrocketed from 45% to 80%, and ETH surged from $2800 to nearly $3100; however, this morning, a sudden piece of news stating that "Powell will resign due to Trump finalizing the new Federal Reserve Chairman" hit the market, plunging it into panic, leading to a sudden escalation in short-term volatility.

2. Tariff dividends are still pending! The tariff dividends promised by Trump last month have not yet materialized. If officially finalized in December, it will inject a massive amount of liquidity into the market, becoming a key catalyst for the strengthening of encryption assets. Currently, funds are closely monitoring this policy implementation window.

3. The Federal Reserve accelerates the pace of interest rate cuts! Trump is highly likely to nominate a new Federal Reserve chairman before Christmas, with the top candidate Hassett aligning closely with Trump's demand for rate cuts. His appointment is expected to accelerate the implementation of easing policies – and interest rate cuts have always been a core benefit for the encryption market, further activating market risk appetite.

4. Beware of "good news fully priced in" regarding the ETH Hard Fork! The Ethereum hard fork upgrade is coming the day after tomorrow, and the market has fully speculated on this expectation. It is important to be cautious of the risk of a pullback that could occur once it is realized, and maintaining a defensive mindset is crucial.

Key Reminder: Powell's speech tonight will have a significant short-term impact, but the Federal Reserve has long been prepared with countermeasures, and his presence or absence will have limited influence on the long-term policy direction. Currently, liquidity in the encryption market is sluggish, even below the level during Ethereum's $1000 period. In the context of amplified volatility, it is necessary to focus on core policy variables and cautiously manage the pace!