The reason for the general decline in the cryptocurrency market today is indeed closely related to the Federal Reserve's interest rate meeting and the policy direction of the Bank of Japan. The results of the Federal Reserve's interest rate meeting and Powell's speech often have a profound impact on global financial markets, including the cryptocurrency market. Investor expectations about the Federal Reserve's future interest rate cuts, as well as concerns that interest rates may remain high, have increased cautious sentiment in the market. A higher interest rate environment could indeed raise the probability of black swan events and make investors uneasy about the delayed implementation of loose policies, thus enhancing risk awareness and opting for more conservative investment strategies.

In addition, the uncertainty over whether the Bank of Japan will raise interest rates adds to this complexity. Although the probability of a rate hike is low, the market's sensitivity means that any minor fluctuations can trigger investors' risk-averse sentiments. The linkage between these two major events and next week's Christmas adds even more complexity and volatility to the market.

However, the market is always full of variables and opportunities. Although there may be some challenges and uncertainties in the short term, in the long run, as long as one maintains a clear mind, rationally views market fluctuations, and adjusts investment strategies in a timely manner, it is believed that opportunities can still be seized.

Recently, Pan Shao has been observing the first-level market in the cryptocurrency space and feels that the puppies on the Ethereum chain, associated with Elon Musk, show great potential. As the strongest meme concept, it is emerging and has enormous future development potential. It may have the chance to become the next phenomenal crypto asset like Shiba Inu, and is worth the close attention and in-depth research of all investors.