#STH Powell dealt the market a heavy blow again

At 1:30 AM today, Powell's speech at the Chicago Economic Club directly splashed cold water on the market that was hoping for monetary easing. Initially, everyone held onto a sliver of hope, thinking that even if he didn't explicitly adopt a dovish stance, he would at least say something soft. After all, just the day before, his colleague Waller hinted at 'possibly earlier and larger rate cuts.' What happened? Powell simply stated, 'Now is not the time to talk about rate cuts; we need to wait and see the situation.

What's even harsher is that when asked if the Federal Reserve would step in to rescue the market during a stock market crash (also known as the so-called 'Fed put'), his response was quite cold: 'Don’t expect the Fed to come to the rescue.' This makes it clear that until inflation is under control, don’t expect him to change course, even if the market is in pain.

To be honest, Powell's tough stance this time is a bit hard to understand. During the outbreak of the pandemic in 2020, when Trump was in office, he didn’t hesitate to unleash monetary easing, engaging in unlimited QE. Now? It feels like he is determined to go against the market, even a bit amused by the White House's predicament.

As an old player in the crypto space, we need to be clear-headed—don’t expect a sudden policy shift to save the market. We should defend when necessary, don’t go all in too easily, and save some bullets for the real bottom. Sometimes, the most brutal times in the market are precisely when opportunities begin to brew, but the prerequisite is... you need to survive until then.

If anyone is confused due to market fluctuations, unsure how to deal with a trapped situation, or feels misled during the trading process, feel free to reach out!