Finished homework early today, and the mood after Monday's U.S. stock market opening is much better—completely different from the gloomy vibes over the weekend. The overall trend in cryptocurrencies is also decent. Although it hasn’t fully returned to the levels before Friday’s U.S. market close, the gap isn’t too big. Users seem to have recovered from the panic caused by the weekend’s sharp drop. Of course, the main reason is that the trade tensions between China and the U.S. haven’t escalated further in practice, which is probably the most critical factor. During an interview today, Besent mentioned that the U.S. isn’t genuinely aiming to impose 100% tariffs on China. The relationship between China and the U.S. is still good at this point, and the U.S. holds a stronger position. Essentially, tariffs are just a tool to secure better negotiation terms. China hasn’t taken significant countermeasures regarding the tariff issue either—only the Ministry of Commerce and the Ministry of Maritime Affairs have made statements, while the Ministry of Foreign Affairs has remained silent. After the U.S. stock market opened, the performance was solid. The Nasdaq rose by 2%, and the S&P 500 increased by 1.5%. It’s likely that the market will recover to the levels before last Friday’s drop within the week. Currently, the market’s focus has shifted back to the U.S. government shutdown and the Federal Reserve’s monetary policy. Tonight, the Fed’s PAAmericaON (non-2025 voting member) hinted at supporting rate cuts during the remaining two FOMC meetings in 2025. Looking at Bitcoin’s data, the turnover rate isn’t particularly high, staying within normal levels. Most of the activity comes from investors who bought the dip yesterday and are now selling, along with some high-position loss investors reducing their holdings—probably worried that the bull market is over. But as mentioned earlier, the U.S. stock market’s current performance is decent, with no signs of systemic risk. This week, there should have been retail data and PPI data, but with the shutdown, it’s highly likely they won’t be released. Tomorrow, Powell will give a public speech, but it’s unclear whether it will touch on monetary policy—worth keeping an eye on. Other than that, things seem fine. Sponsored by Bitget ｜ @Bitget_zh