The probability of the Federal Reserve maintaining interest rates in May 2023 is high, and although expectations for a rate cut in June have risen, there are still uncertainties. The market shows clear differences regarding the timing of the start of the easing cycle. Investors should remain flexible in their allocation to cryptocurrencies and risk assets. In the short term, it is advisable to moderately reduce positions in high-volatility varieties, focusing on mainstream cryptocurrencies and inflation-resistant assets like gold. In the medium term, closely monitor Federal Reserve policy signals and core economic data, and look for opportunities to increase positions in technology growth sectors and high-quality cryptocurrency assets, while avoiding excessive leverage and high-beta targets to guard against sudden market fluctuations.