This morning, the US stock market closed lower, and BTC was not spared, following suit with a decline. As reminded yesterday, the previous rally was merely a rebound; it's time to take profits. The current drop in ETH and SOL is clear evidence of this.

Next, on one hand, there are the unpredictable comments from the wise king regarding interest rates, and on the other hand, the GDP data will be released at the end of the month.

Previously, the market has been buzzing about recession expectations. For those hoping for an altcoin season, it’s important to understand that varying degrees of recession will affect differently: a mild recession can be handled, but if we fall into a deep recession, the easing cycle will be delayed, and the altcoin season will be out of reach.

Currently, the market expects a rate cut in June, but this may not necessarily be good news. The key is to look at the reasons behind the rate cut; if Powell's wording leads the market to interpret it as a recession-style rate cut, panic sentiment will surely return.

Therefore, one still shouldn't be too ambitious. Or simply stay in cash and watch the show.