At 02:00 on May 8 (tonight) Beijing time, the decision from the May interest rate meeting will be announced. If nothing unexpected happens, it will be a chaotic situation with some ups and downs.

Affected by rising inflation expectations and the deterioration of 'soft data' such as consumer confidence, the market generally expects the Federal Reserve to maintain interest rates at this meeting. Compared to the interest rate decision, Fed Chair Powell's remarks on the current state of the U.S. economy and the outlook for future rate cuts have become the focal point of attention.

In other words, the interest rate decision tonight is not very important; what matters more is Powell's attitude.

The expectation that the Federal Reserve will not cut rates has already been priced in over the past few days in early May, but mainly among altcoins, while mainstream drops have not been significant. Will the Federal Reserve cut rates tonight? A rate cut would be an unexpected event, which could lead to a pullback after breaking the 100,000 mark, and mainstream altcoins might show some activity, particularly those lagging behind in growth. If there is no rate cut, the reasonable expectation is that Bitcoin will experience a short-term pullback, altcoins will also pull back, and there will be a period of adjustment (a few days or weeks) to continue speculating on the rate cut expectations in June.