Tonight, which is Thursday morning, the global capital markets will迎来 'judgment moment'. The Federal Reserve's interest rate meeting will be held at 2 a.m., and this meeting is crucial for the future direction of the cryptocurrency market. There are three key points in this meeting: First, the result of this meeting is a 100% guarantee of no interest rate cut, which the market has already digested in advance; even if there is an impact, it is limited. Second, the Federal Reserve will provide guidance for the next interest rate meeting, which concerns whether it can cut interest rates again after half a year. This is particularly crucial for the subsequent trends in our cryptocurrency market. According to the latest interest rate market results, the probability of the Federal Reserve cutting rates in June has halved, from 68% to 31.8%, while the probability of not cutting rates is 67%. If Powell's speech leans hawkish, Bitcoin may suffer a significant correction!

Another point is the Ethereum upgrade. According to past experiences, the market would have been buzzing at this time, with coin prices fluctuating wildly, but now the market is surprisingly calm, like a stagnant pool of water. This upgrade may be the 'most frustrating' one in history, as the main funds have already retreated in advance. More critically, after the upgrade is completed, it will directly collide with the Federal Reserve's 'nuclear-level' interest rate results, and Ethereum's price will also struggle to escape the fate of a 'plummet'! Currently, after rebounding in the morning, Bitcoin's pullback strength is not very strong, and it has been fluctuating at a high level. Seemingly strong market conditions often contain deadly 'traps', and it is more likely to be a performance of baiting the bulls. Therefore, in the short-term operation, one should not blindly chase long positions; either stay on the sidelines or take light long positions at high levels for greater safety.

On Wednesday afternoon, Bitcoin can still be shorted above 97,000, while continuing to focus on the support levels at 95,000 and 93,000. Ethereum remains unchanged; as long as the rebound does not break the previous high around 1,880, one can enter short positions. The support levels to watch below are 1,730 and 1,680!