April 19, 2025

Recently, Trump has been in a "heated" situation with Federal Reserve Chairman Powell. Trump openly expressed his dislike for Powell's economic policies, and some of his remarks can even be described as "bombastic". This is actually because Powell insists on an independent economic policy and will not be forced to cut interest rates due to Trump's comments. However, there are rumors that Trump has privately discussed the intention to fire Powell. Although this is not allowed within the U.S. system, the market still shows some concern.

The trend of the U.S. stock market shows signs of risk aversion. Although there was a significant upward movement after a sharp decline, the subsequent trend has been rather sluggish, and the current situation is not very optimistic. From the perspective of funds and confidence, it still belongs to a phase of tight liquidity. However, I believe that since the overall level is low, it’s a matter of whether there will be worse times ahead. From a degree perspective, we are basically at the worst point, and opportunities are appearing, but whether there are better opportunities is unclear.

The market is boring, so let me digress. I don't know if everyone has noticed that in recent times, many so-called "female KOLs" have flooded into the circle, but in reality, they are just using the guise of KOLs to create borderline content. If in the past few years, the increasing number of high-quality women joining the industry somewhat indicates the value discovery of this circle, then the current emergence of bulk "female KOLs" indicates that there is too much hot money in the circle, and they want to quickly reap profits through borderline activities. I don't know how to evaluate this phenomenon; there is a market only when there is demand, and these are just the rules of the market itself.

Cryptocurrency has increasingly gained attention over the past few years and attracted all kinds of people. Objectively speaking, the faith of newcomers is much weaker. Those who entered the market several years ago still held a bit of idealism in their hearts, believing in decentralization and the future of blockchain technology. But now, saying such things might come off as a bit fake or even silly. The crypto space is different from other circles; if it only retains the scent of money, it loses its original meaning and ultimately becomes just another ordinary circle. Therefore, I hope more people can stay true to themselves.

Thank you for your attention.