**Simplified Version:**

What is the market still worried about? It's worried about expectations.
Compared to yesterday, there hasn't been much improvement; everyone still tends to hold on and mainly observe.

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**Detailed version:**

To be honest, the market is still quite anxious right now, feeling uncertain about various uncertainties.

Look at the VIX (Volatility Index), it hasn't decreased much compared to yesterday - this indicates that investors are still nervous.

Recently, several Federal Reserve officials have been reassessing the possibility of interest rate cuts. More importantly, Trump has made a statement saying he wants to replace Powell by the end of the year. With this news, the market has to recalculate the probability of a rate cut in December.

That being said, if the upcoming data performs well—such as CPI, employment data, inflation data, etc.—then market confidence is sure to be boosted, and our crypto sector will naturally benefit from it.

Another quite obvious issue is the shortage of liquidity. Fortunately, the TGA account (Treasury General Account) still has a relatively high balance, so any form of liquidity injection is worth looking forward to.

In short, be patient while waiting for the data, don't rush.