Powell's core ally Williams has continuously "dove" in statements, leading to a complete reversal of the market's expectations for a rate cut in December——

A week ago, the probability of a rate cut was only 29%, but now it has skyrocketed to 82.9%! The market generally interprets this as Powell's "precise probing" of policy direction, and the data released throughout this week further confirms this expected logic.

J.P. Morgan's latest client survey has revealed a key signal: investors' net long positions in U.S. Treasuries have surged to nearly a 15-year high! This means that in the face of high yields, if the Federal Reserve does not actively lower rates through QE, the chain reaction of arbitrage trades could impact the entire financial system.

As it stands, the Federal Reserve seems to have nowhere to retreat to #加密市场反弹 #美国非农数据超预期 #美联储重启降息步伐 #ETH走势分析