Will it keep dropping? As of this morning, the US stock market, including the S&P, has already turned positive and is rising. It seems like sentiment is stabilizing... As for BTC, it hasn’t followed the upward trend significantly. Sigh, BTC always follows the drops but not the rises—it takes time to catch up. Even though BTC hasn’t rebounded much for now, the recovery in the US stock market at least shows that sentiment isn’t getting worse for the time being, right? Can it hold steady...? At 4 PM today, there’s a Fed official speaking hawkishly, saying it’s hard to support a rate cut in December. Of course, whether there will be a rate cut or not is still up for debate. As of the time of writing, CME’s forecast for a December rate cut is only 44.4%. We still need to look at macro data for guidance to determine if a December rate cut is possible. For now, the September non-farm payroll data, which was originally scheduled for release on 10/3, got delayed due to the government shutdown. It’s now set to be released next Thursday. And October’s PCE data will be released on November 26. The Fed will definitely take these data points into account to decide whether a December rate cut is feasible. If the data is favorable, market sentiment will naturally improve. Plus, with the government reopening, fiscal liquidity will be released—like wages and such—so things should start gradually recovering next week. So, from today until Thursday, we’ll see how things play out. We can’t be sure if the data released on Thursday will be what the market wants. But I feel like if they dare to release it, it must be good data that the market wants, right? Just my personal opinion. After all, BTC isn’t far from that $92 gap. We can’t rule out the possibility of someone in the market trying to hit sentiment again, pushing prices further down. Especially with the low liquidity over the weekend. Personally, I think today should be okay. Let’s see about tomorrow... Still hoping we can get through the weekend peacefully.