The latest speech by Federal Reserve Chair Jerome Powell sends mixed signals, with several key statements worth noting: inflationary pressures still pose upside risks, there are clear signs of cooling in the labor market, and economic growth has already slowed. However, he also emphasized that raising interest rates is not the current baseline expectation.

What does this statement reveal? The dilemma faced by the Fed is: on one hand, inflation is not fully under control; on the other hand, the economy is beginning to show signs of fatigue. Policymakers are now more concerned not with whether to continue raising rates, but when and how much to cut. This kind of dilemma is not good news for the market.

Looking at the latest employment data, the unemployment rate in September did indeed rise, the growth rate of new jobs slowed significantly, and labor market activity is weakening. These signs indicate that US economic momentum is insufficient, and funds may reassess risk asset allocations.

What does this mean for the cryptocurrency market? If inflation remains high, purchasing power will be eroded, and asset valuation logic will be challenged; if the economy cools further, risk-off sentiment will rise, and high-risk assets may face selling pressure. In any case, market volatility will increase.

In this macro environment, blindly chasing gains or panicking can be very risky. A wiser approach is to closely monitor policy developments, pay attention to changes in key support and resistance levels, and adjust position strategies based on market structure. When the market is shrouded in fog, maintaining clarity is more important than blind optimism.