How to look

The Fed's recent actions are actually quite obvious: on one hand announcing the halt of balance sheet reduction, while on the other hand saying that the December interest rate cut is 'undecided'; this is not wavering, but posturing. What does it mean? Telling the market: the initiative is in my hands, the pace is set by me. They know that right now the market fears uncertainty the most, and a statement of 'undecided' makes capital hesitant to preemptively take positions. This is about controlling the rhythm, making the market hold its breath. The market may seem stagnant, but it's not unresponsive; it's biding its time for a big move. In the stage where macro conditions confirm easing, liquidity is locked in and returning, and interest rate cut expectations are repeatedly debated, the main players conveniently use the excuse of 'data is still unstable' and 'repeated statements' to wash and absorb positions. The current fluctuations are not weak, but rather gathering strength; not a peak, but a starting point. Typically, after such macro turning points, the market is eerily quiet, and once a consistent expectation is formed—capital will directly explode. Just like that wave in 2020, where the FOMC's repeated ambiguity about interest rate cuts led to confirmation, resulting in BTC soaring for three months and altcoins taking off. Now, we have the exact same script. Born from despair, rising in hesitation, and perishing in madness.