The Federal Reserve remains on hold and sends a key signal: Under the new normal of high interest rates, investors need to reconstruct the 'risk-return' axis. In the short term, market liquidity will maintain a 'tight balance' status, and arbitrage trading (Carry Trade) strategies may make a comeback, with funds possibly accelerating towards high-yield currency assets. However, more importantly, the upward shift in the interest rate center has substantially changed the capital pricing model—valuation logic for tech stocks is facing pressure, while infrastructure-based tokens with stable cash flows and staking yield protocols will be re-priced by institutions.

The cryptocurrency market may experience polarization: Bitcoin's safe-haven property as 'digital gold' may be weakened, but the RWA (Real World Asset) sector, which can capture excess returns from traditional markets, may become a new entry point for hot money. On-chain data shows that USDC supply has increased by 12% in the past two weeks, indicating that institutions are building liquidity reserves, setting the stage for a potential policy shift in the second half of the year. Smart investors are starting to hedge the 'higher for longer' risk with options combinations, while capturing fragmented liquidity dividends through modular DeFi protocols.