Less than 6 hours remain until the Federal Reserve's interest rate decision, and market sentiment is starting to tighten.

According to CME FedWatch data, the probability of keeping the current interest rate unchanged is as high as 97.9%, almost a done deal.

But what really worries people is not the 'unchanged' outcome, but whether there will be a 'hawkish' stance.

If Powell mentions the potential impact of tariff policies on inflation during the press conference tonight, the market will worry that there will be no rate cuts in the future, and the rate cut expectations that started in September will be directly halved.

This is the situation that bulls least want to see.

Looking at the recent decline in BTC, it has actually already 'previewed' the worst emotions.

What the market fears is never the result itself, but the ambiguity and repetition.

If the Fed releases even a hint of hawkishness tonight, it could lead to a rise in short-term risk aversion, causing BTC, ETH, and US stocks to adjust simultaneously.

Of course, if the tone is mild, it would be the end of the line for bears.

Let's hope tonight isn't too harsh,

Let's hope August treats the cryptocurrency market a bit better,

And let's hope that the 'long-term believers' in this industry are no longer frightened by daily short-term fluctuations.