The Federal Reserve's 25 basis point rate cut is completely within expectations.
Summary of Powell’s speech:
1. This round of rate cuts has ended, and there will be a pause afterward, similar to the three rate cuts at the end of 2024.
2. The entire rate-cut cycle has not ended; at least no one is considering a rate hike.
3. Looking at non-farm payrolls, the real data is roughly around -20,000 per month. Due to statistical and modeling reasons, non-farm payrolls do not truly reflect reality.
4. Buying short-term bonds is to ensure sufficient liquidity, thereby maintaining interest rates.
The ab

The economic miracle of China over the past few decades actually boils down to two things.
First, exporting production capacity worldwide to earn money from developed countries.
Second, leveraging the entire population in real estate to earn the future thirty years' income of ordinary people, which has now been spent.
This is the true prosperity seen over the past few decades.
But it is also an inevitable and unsustainable prosperity.
After all, you cannot become the sole supplier of the whole world, and the purpose of globalization is not for one country to monopolize global supply. This is u

Seeing the current state of the crypto world turning into a pile of dog shit, I suddenly remembered the leaked recording from 2018 where Li Xiaolai said, “Regulation is meant to protect retail investors. Many retail investors think regulation is there to harm them. If this circle had regulation, we wouldn’t dare to recklessly cut leeks.” Thinking about it, that makes sense. In 2023, during the Biden administration, although there was continued crackdown on cryptocurrencies, the industry was still developing normally, and project teams of altcoins were actually working on real projects. Everyon

Three years ago, my wife always said that I was "gambling" when I traded cryptocurrencies. At the dinner table with my father-in-law's family, relatives looked at me askance and asked, "I hear you're into Bitcoin? Isn't that stuff a scam?" I silently shoveled my food, and my explanation sounded pale. At that time, BTC was still struggling around $30,000, ETH had just broken through $2,000, and the market was filled with bearish sentiment. Relatives both advised me to "get a steady job" and boasted about their children passing civil service exams, buying houses and cars. I clenched my shrinking

Regarding the views on bull and bear markets, I personally don't feel strongly about it. The size of the crypto market has grown significantly now. For $BTC , the distinctions between bull and bear markets are becoming less obvious. Unless there's a major crisis in the global markets, it's hard for many institutions to pull out their chips. Therefore, there's no need to argue too much about bull and bear markets. The bull market often experiences sharp declines, and the bear market can rebound vigorously. In my opinion, when the market is not doing well, it's a bear market; when the market is

The genes of the poor: they like to take care of others and help people. But the rich are different. When the rich encounter people who are incapable, they don't try to mediate; they avoid wasting their own abilities. The core of the wealthy is filtering out all irrelevant, incompetent, and worthless people! The poor are cautiously generous; the rich are openly stingy. Don’t talk logic with those at the bottom, don’t talk ideals with those in the middle, and don’t talk emotions with those at the top. With people at the bottom, talk about emotions and morality; with people in the middle, talk a

Revisiting the Bitcoin White Paper
In the past few days, I rediscovered a familiar PDF file: the Bitcoin White Paper. It's not for trading or market analysis, but to once again experience the design journey of this system.
"That author from 16 years ago had a thinking logic far deeper than ours in the 2020s."
Back in 2008, when feature phones still dominated the mobile market and payments relied on U-shields and verification codes, Satoshi Nakamoto wrote a document outlining:
1️⃣ A global payment settlement system that doesn't rely on any central authority;
2️⃣ A trust mechanism that

I think the next bull market must focus on Ethereum.
In the current bear market, ETH has the potential to drop to around $1,000, which would be a very ideal bottom area. It has performed mediocrely in this bull market, partly because the previous round rose too sharply, overdrawn expectations, and also led to a general lack of confidence in it in the market now - but this collective bearishness is often the prelude to the next big rally.
If the bear market can really see $1,000 in ETH, then there is a high possibility that the next bull market will rise to $10,000, which is at least 10 times t

Hong Kong cryptocurrencies will have to file tax returns after 2028
In the future, it is estimated that it is only a matter of time before Chinese mainland collects taxes on cryptocurrency transactions, just like this year's US stock tax collection is defined as 20% personal income tax on overseas income, and in the future, currency speculation can also be defined as 20% personal income tax on overseas imports.

Now the market is already in a bear market rhythm, and many people leave their U still, thinking about waiting for the market to show signs before buying coins slowly. The problem is that if you put U on the exchange or in your wallet, there is almost no interest, so everyone starts thinking about various stablecoins for financial management.
In fact, most people who have just entered the circle do not have the concept of configuration at all, and they can stud as much money as they have, and it is easy to impulsively leverage them. Leverage is indeed risky, but to be honest, some people rely

#BTC Here’s a heartfelt word for those brothers whose principal is less than 10,000 USDT, holding a few thousand USDT and feeling restless.
#ETH Back then, I was just like you—watching market fluctuations, itching to jump in immediately;
#sol constantly scrolling through others’ profit screenshots; the 3,100 USDT in my hand felt like a hot potato, always wanting to double it as quickly as possible.
But later, I realized: having a small principal isn’t fatal—acting in haste is.
Crypto isn’t a game you win by luck,
nor is it a casino for betting big or small.
You think you can turn things around

It's almost 2026, and there are still financial management platforms collapsing, with people still investing in wealth management only to lose everything.
In recent days, many investors from all over the country have come to the Zhejiang Financial Asset Exchange Center in Hangzhou. The wealth management products they bought had a yield of 4-5%, but now they've defaulted.
In the past, collapsed P2P platforms used high yields and high returns as a gimmick, but now the products from the Zhejiang Financial Asset Exchange Center that have defaulted offer very low returns, only 4%.
Many people thoug

Why isn’t virtual currency allowed in China?
Illegal cryptocurrencies have already, to some extent, perfectly circumvented foreign exchange controls. If cryptocurrencies were legalized, it could even render the Golden Tax Phase IV system obsolete.
For example, if you sell an apartment in a first-tier city and receive 5 million RMB in cash, and you want to exchange that for 700,000 USD to transfer abroad:
The bank’s foreign exchange purchase limit is $50,000, and the remittance limit is also $50,000—a double safeguard—so it would take 14 years to complete the transfer.
If you use someone else’s

Nowadays, hardly anyone talks about real estate at gatherings anymore—a true end of an era.
From what I remember, ever since graduating college and entering society, the most popular topics at group dinners were houses and housing prices.
In the early years, some were optimistic and wanted to keep buying property; others were pessimistic, thinking prices were too high and would eventually fall.
But in the years that followed, everyone was convinced by the rising property prices. Those who had bought houses were pleased with their decisive actions years earlier; those who hadn’t regretted hesit

The main reason many people currently believe that $BTC will continue to experience a raging bull market is that the Federal Reserve is about to enter an interest rate cut cycle, and a bear market is impossible during a rate cut cycle.
Whenever someone says "ending quantitative tightening + rate cuts = bullish," I always want them to consider this:
Then why, during the three years from 2023 to 2025, did Bitcoin surge from 16,000 to 110,000 during a cycle of quantitative tightening and rate hikes?
If prices rise during rate hikes and also rise during rate cuts, then what do these two factors r

Now that deposits and withdrawals have been strictly restricted, the opportunity for an explosive altcoin bull market has fully emerged.
Why is that, ❓?
First of all, most altcoins have dropped twenty, thirty, even fifty times in value over the past two years. Retail investors trading crypto spot have lost everything, the losses are unbearable to see, and basically, they've lost all confidence in the crypto space. In the future, there will no longer be any impulse to invest money into crypto.
If altcoins are now pumped fifty or a hundred times across the board, it could help the remaining reta

Actually, I’m very optimistic about $ONDO . In the RWA sector, the only real-world application in the future is U.S. stocks on-chain. Currently, ONDO’s tokenized stock trading accounts for over 70% of the market share, and major exchanges, including Binance Wallet’s tokenized stock trading, are all based on the ONDO protocol. ONDO’s current market cap is $2.3 billion, with large unlocks every January 18th for the next three years. Personally, I plan to consider building a position if ONDO drops below 0.2, betting that ONDO will explode in the next bull market.

Repost, Years of Ups and Downs in the Crypto World: What I Rely On Has Never Been Luck $LUNC
In 2017, I was 29. The first time I heard the word “Bitcoin,” it was like catching a glimpse of a faint light in the corner of a noisy bar. Back then, it still carried a hint of mystery and wildness.
Like everyone entering this world for the first time, I had dreams of changing my destiny and also tasted the lessons the market had to offer. I witnessed the madness of 2017 and endured the dead silence of 2018. I watched countless so-called “pros” around me rise in the frenzy of leverage, only to fall q

Without Big Pu, Moore Threads soared 425% on its first day of listing, with each share rising 486 yuan, and its market value shooting up to 282.3 billion yuan.
A loss-making company with annual revenue of just over one billion, claiming to benchmark against Nvidia and to be the next Cambricon, has reached the peak of market capitalization right after going public.
Founder Zhang Jianzhong, leveraging his background as former General Manager of Nvidia China, started the business five years ago and easily secured investments, hitting the jackpot thanks to the AI chip boom.
While most entrepreneur