#加密市场回调 Today's most exciting news in the market can be considered as real Favourable Information. The Fed officially announced that it will stop reducing the balance sheet in December, and this significant policy shift will loosen global Liquidity, effectively stabilizing the medium to long-term funding situation.

More significantly, the high-level leaders of China and the United States confirmed today that they will meet. This substantial diplomatic progress can boost market confidence more than any rhetoric and directly ignited short- to mid-term market sentiment.

However, Powell's subsequent speech hinted that "a rate cut in December is not certain," which led to some fluctuations in the short-term market. Currently, the market expects the probability of a rate cut to be around 70%. However, it is worth noting that the Fed's decision to stop balance sheet reduction has become a foregone conclusion, and there are also clear signs of easing in China-U.S. relations. Coupled with the support of the existing economic fundamentals, the actual possibility of a rate cut in December should exceed 90%. The current 70% probability assessment is clearly influenced by short-term uncertainty factors. Once market sentiment stabilizes and rational analysis prevails, the upward trend in asset prices will return, and the revaluation of value may be completed in a relatively short time.