The news that the Federal Reserve has once again held steady on interest rates just landed, and US stocks staged a performance of a high jump followed by a plunge—Nasdaq barely closed up 0.12%, while the Dow Jones fell 0.1%. Interestingly, the stablecoin sector exploded, with Circle surging 33.82% in a single day, and the scent of risk aversion could be sensed through the screen.
On this side, the domestic meeting just concluded with an economic tone set; logically, it should have injected some adrenaline into the market. However, the cryptocurrency sector failed to respond, finishing with a choppy decline and seeing trading volume shrink like a receding tide. The positive news dropped down like a stone thrown into stagnant water, barely creating any ripples. This kind of situation is the most frustrating—news seems lively, yet the market feels like it has been fitted with a damper, with both buyers and sellers showing hesitation.
What to watch today? There are no signs of sector-specific good news; it’s highly likely we’ll have to follow the US stock market to trade stablecoins. From the market perspective, both bulls and bears seem to be in a stalemate, with no significant drops in sight for now, but it’s also difficult to surge upwards. Especially for Bitcoin, without any policy winds blowing, it feels like it has hit the pause button for the short term; breakthroughs cannot be rushed. Those holding a cryptocurrency need to time their moves carefully; chasing after spikes or panic selling is no different from walking a tightrope with blindfolds on. Observing more and acting less may indeed be the right approach.
The market now resembles a seasoned player feigning ignorance; the fact that the Federal Reserve isn't cutting rates should have been digested long ago, yet funds insist on diving into stablecoins—rather than speculating on hot topics, it’s more like big funds are buckling their seatbelts. Shrinking trading volume isn’t necessarily a bad thing; it at least indicates that panic selling has mostly subsided, leaving behind the patience needed for bottom-fishing. Remember, those who can remain calm in this market will be able to hold on firmly when the next wind blows.
