Why did the market surge despite the Fed not cutting interest rates? Why did the market 'ignore' the hawkish warnings?

Powell's remarks seemed tough, but the market had already digested the expectation of 'no rate cuts in the short term'. Current CME rate futures show an 85% probability of a rate cut in July, and the market generally bets on at least two rate cuts within the year. This 'loose expectation under a hawkish facade' may be a major factor supporting risk assets invisibly.

At the same time, Trump suddenly announced the lifting of the Biden administration's restrictions on AI technology, igniting enthusiasm for tech stocks, with leading shares like Nvidia soaring. In the wave of warming risk appetite, Bitcoin, as both 'digital gold' and a 'tech asset', once again stands out, naturally attracting funds.

Another key variable is the resumption of Sino-U.S. trade negotiations. For example, Trump's speech tonight will likely touch on this topic. Historical experience shows that when the global trade environment improves, the crypto market often benefits from increased liquidity expectations and a recovery in market sentiment. #BTC交易 #BTC突破99K #Pectra升级