Good morning!

Today's panic index is 57, maintaining a neutral state. Old Bao's speech was actually hawkish, but the market originally expected that interest rates would remain unchanged, so there was not much negative impact. The continuous buying by institutions is the main factor stabilizing the price of Bitcoin. The U.S. economy remains strong, employment data is ideal, but inflation has not shown any decline, and the impact of tariffs is still difficult to predict, so the current interest rate level is maintained. Currently, it is a situation where negative news has landed, so the impact on the market afterwards will not be too great. What can currently sway the market is the situation in the Middle East, and whether the U.S. will participate in the war will still be a turning point for the market. Short-term fluctuations are more due to market emotional reactions rather than fundamental changes.