Tonight, Powell's speech hinted at some dovish signals, and there might still be room for rate cuts next year. However, the market reaction was quite intense, with sharp swings back and forth, causing both gains and losses.

Honestly, chasing long positions in this kind of market carries high risk. If you want to short, placing limit orders for a pullback might be more prudent. Regardless of being long or short, setting proper stop-losses is essential—without stops, you're essentially naked trading in this volatile environment.

Currently, for those building positions at the bottom, I personally suggest holding steady and not being shaken out. For mainstream coins like BTC, ETH, and SOL, if your positions are reasonable and your costs are low, panic selling now could cause you to miss subsequent market opportunities. Of course, for those caught in a loss, re-evaluating your holdings based on your entry price and risk tolerance to see if adjustments are possible, or even finding opportunities to turn losses into gains, is also a wise move.

Market volatility is normal; staying calm is more important than anything else.