I stayed up late reviewing, and I honestly can't handle the exhaustion. After sorting through the key content of yesterday's Federal Reserve meeting this morning, here are my key conclusions:

1. Regarding the allegations against Powell, he will absolutely not voluntarily withdraw from the committee if the matter remains unresolved. His stance is extremely hardline and very clear.

2. Current interest rates are in a neutral-to-moderately-tight range. There is no consideration for rate hikes at this stage, and there is insufficient data for the Fed to provide clear policy guidance or signal hints.

3. The Middle East situation still carries high uncertainty. While it is a cyclical event, whether its subsequent impact can be disregarded still requires observation, and the Fed's statement is somewhat vague.

Overall, this meeting aligns with market expectations. Overall uncertainty remains elevated, and the Fed itself has not formed clear judgment. The dot plot shows no significant changes from December. The policy direction remains to be observed going forward. The overall tone is neutral, not hawkish. Combined with the PPI data that exceeded expectations previously, this further weakened market expectations for rate cuts.

As for the weakness in U.S. stocks during the speaking phase, the core issue is that macroeconomic uncertainty has impacted market sentiment, not that the meeting remarks directly caused it. The probability of BTC reversing higher in the near term is extremely low. My previous view remains unchanged—now is still not the right time to go long. Thursday and Friday will likely see a continued decline. Patiently wait for the window of accelerated liquidity release, and then deploy capital to pick up positions and go long. #美联储利率决议