In the past month, after Bitcoin stalled at 112,000, it has entered a phase of adjustment where both bulls and bears have opportunities, and trading is relatively easy. There may be occasional losses, but they won't be devastating. People tend to have fixed mindsets, and many are unwilling to cut their losses, thinking they can hold on. When the market is not volatile, it doesn't trap people; it's the large, one-sided movements that truly hurt.

Tonight at 2:30 AM, there will be an interest rate meeting followed by a speech from Powell, and it is highly likely that we will see significant one-sided movements afterward. So, can we open positions today? Yes, but we must ensure good risk management.

Last night, the short position on 104k Bitcoin and 2490 Ethereum did not reach the expected 106k to reduce losses, and this momentum is likely to sweep away breakeven points.

The market expects two rate cuts this year, and the Federal Reserve is becoming increasingly cautious about cutting rates in 2025. Inflation remains their primary concern. Therefore, it is becoming less likely that there will be any aggressive easing policies within this year.

So, I believe that the interest rate decision tonight is expected not to cut rates in June, and there may be plans for two rate cuts of 50 basis points each, coupled with Powell's hawkish stance. I think tonight's news will be bearish, and I am positioned as a significant bear. The current movement is somewhat similar to November 2021; if my judgment is correct, then for the next long six months, we only need to do one thing: short, short, short. If 70,000 seems far from 110,000, it can reach there. Similarly, if 110,000 seems far from 70,000, it can also get there. In the cryptocurrency world, nothing is absolute or impossible; it is precisely the uncertainty and unknowns that lead us to have greater expectations and infinite imaginations.