At 3 a.m., all the focus of the market will be on the old man.

Don't just stare at the question of "whether to drop or not" - the answer is already written on your face. 25 basis points, a certainty.

What really depends is how they "get vaccinated while dropping".

This time it is likely to be a classic operation again: the action gives sweetness and pours cold water on the mouth. Drop is down, but don't expect them to make you too comfortable.

The inside is actually also a fight:

some people are nervous about employment data and want to continue to release water to stabilize the situation;

Some people are afraid of inflation and advocate not to step on the brakes too hard.

This entanglement will most likely be reflected in the dot plot - will it fall later this year? Opinions can be quite divided.

**How to Play in the Crypto Market**

**(1) Short-term window: Tonight to tomorrow morning is a dangerous period**

The landing of interest rate cuts does not mean direct take-off.

If Lao Bao's words reveal the meaning of "slow down in the back", the mood may overturn on the spot, and the market will change face instantly.

If the leverage is heavy, risk control must be put first.

**(2) Medium-term logic: keep an eye on balance sheet trends**

If they hint at a "slowdown in the pace of balance sheet reduction" or even "consider re-expanding", that is a real liquidity signal.

When the faucet is loosened, risk assets have real upside fuel.

**(3) Large-cycle judgment: shock is screening, and the direction is still upward**

There may be a round of hard washing tonight, but as long as liquidity expectations gradually warm, the bottom carrying force will return.

Structural opportunities don't go out for a single meeting.

So you need to understand:

Now choose to get off the car early to lock profits?

Or wait for the market to hit a low by panic and then pick up cheap chips?

This tests the sense of rhythm and execution.