Powell emphasized the importance of the labor market, and St. Louis Fed voting member Bullard also stated that the September non-farm payrolls and unemployment rate would be key factors in determining the direction of interest rates. This has created a subtle tug-of-war between rate cut expectations and recession fears. If rate cuts are seen as positive, the market might resume its upward trend; if recession concerns dominate, it could trigger further declines. From a data perspective, the weekend's lower turnover rate is normal, with short-term investors showing balanced buying and selling. The $112,000 level still holds as support. Currently, the market's expectation for a September rate cut has returned to 75%, but the overall adjustment may not be over yet. The next move for BTC will likely depend on the sentiment reaction after the U.S. stock market opens and how investors reinterpret Powell's remarks. Sponsored by Bitget ｜ @Bitget_zh