Regarding the Federal Reserve's interest rate meeting on May 8, the market is not really worried about a lack of rate cuts, but rather that Powell no longer signals any expectation of easing. Historically, two key conditions must be met for the Federal Reserve to cut rates: first, effective control of price increases, with significant alleviation of inflationary pressures; second, the economy faces substantial recession risks, and failing to take rate-cutting measures could lead to a systemic crisis. Based on current data, a rate cut in May is almost impossible, and the ongoing uncertainty of tariff policies continues to disrupt the market, making it difficult to open a rate-cutting window in the short term. It is noteworthy that Trump frequently pressures on social media, emphasizing that 'inflation has subsided, and the Federal Reserve should cut rates immediately.' His underlying motivation is that rate cuts can stimulate economic growth and boost the stock market, enhancing his own political achievements.

In the cryptocurrency field, Ethereum is set for a major upgrade on the 7th, but the market reaction has been relatively lukewarm. Historically, Ethereum's upgrades have often been accompanied by a 'sell the news' phenomenon, with the last upgrade causing prices to halve from $4000. However, there is also a possibility of a surge followed by a decline this time. As for Bitcoin, its recent trend is clear, with bears taking the dominant position and a noticeable downward trend in the short term.