Master Bao refuses to give in and will continue to raise interest rates to the end.

The beautiful country's economy is still too strong, and 2% is still the inflation target. Currently, traders predict that in September, 82.5% will maintain the current interest rate, 17.5% plus 25 points. The 2% inflation target needs to be below trend growth, and the labor market is slowing down. and cooling real estate inflation. The Fed's interest rate swaps indicate that it will cut interest rates for the first time by 25 basis points in July next year.

It is difficult for the macro situation to change fundamentally from now to June next year. We should not be too optimistic about the market, especially the crypto industry. For the key position of the Nasdaq, we should look at the reversal point around 13800.

Big pie: Derivatives positions (Binance) have dropped to the level of June 22, CVD also looks very bad, and there are no obvious signs of reversal. I have sent a tweet before to remind everyone not to have any doubts about this decline. Expectations that quickly reverse, Prince Charming does not exist, and no one will come to save you.

Now the crypto secondary market has completely turned into a PVP battlefield. Old leeks/institutions and professional traders are cutting each other off. SH (Stop-loss Hunter) stop-loss hunting and liquidation hunting are becoming more and more common in the market, making it difficult to make money. By several orders of magnitude, the advantage of small funds in the current encryption market will be much greater than that of large funds.

The suggestion is that if you have a large amount of funds, you should either make a spot investment or trade in a liquid market.