Yesterday's surge 📈 did not stimulate the market's FOMO sentiment... Instead, the market showed an unusual calmness..

This situation is not hard to understand～

Retail investors are all holding various altcoins to some extent. Those who bought ETH when it was between 4000 and 4800 are not selling now, even if the price rises a few hundred points... Most people are waiting for their altcoins to have a decent rise.

However, this wave can actually only be considered a continuation of the last round. Liquidity has not fundamentally changed, and most funds are still flowing into 'Auntie'. Even Bitcoin hasn't been able to break through 117 so far... The little liquidity that has flowed out has gone into the Auntie's DeFi series..

The few that have risen well are just those. I recommend LDO, EIGEN, ETHFI, and for meme coins, I’m just focusing on PENGU, as it still has some backing... I haven't mentioned much else. It's quite obvious that this round, including L2 layers and basic protocols, hasn't really moved... The visible liquidity indeed cannot support so much... It's not that the altcoins don't want to move; it's that there is no money... Everyone is eagerly hoping for the Federal Reserve to cut interest rates to ease the repressed sentiment... Many holding altcoins for over a year are not only not making money but also losing... This is why there was a violent rebound in the market after Powell's dovish remarks last night, indicating that market sentiment has been suppressed for too long...

The September interest rate decision hasn't been made yet, and whether or not there will be a rate cut is not absolute. If there is no cut, that would lead to a huge emotional contrast, and breaking below 4000 wouldn't be surprising...

So the upcoming interest rate decision is crucial. For now, we can only play with the hot sectors that are currently in rotation... We still cannot position ourselves in the altcoins.. For altcoins to have a decent rise, we need Auntie to stop rising, forcing liquidity to flow out.. For Ethereum to rise, it must reach a new height before we can talk about overflow... Let's see if there's a chance to break through 6 first...