Powell's remarks last night were very subtle—he neither dove nor hawked hawkishly, the key sentence was: "The next steps depend entirely on the data."

This is actually a turning point. The Federal Reserve has shifted from "preemptive signaling" to "data-dependent" mode.

The 25 basis point rate cut has been realized, and the policy shift signals are very clear. Historical experience tells us that after each rate peak and decline, the market tends to enter a "data-driven, slow recovery" phase. Tonight's unemployment claims data will be the first indicator.

If employment data is slightly weak (note: a moderate slowdown, not a catastrophic collapse), the market will immediately sense "more room for rate cuts." This is definitely a positive signal for risk assets like cryptocurrencies.

At this stage, don't expect a violent surge.

But for investors who are not in a hurry to chase high, it is a good opportunity to buy on dips and wait for the trend to clarify. During the initial policy turning point, the market usually doesn't surge straight up; more often, it fluctuates with gradually raising the baseline, slowly forming a bottom pattern.

In the future, each economic data release will likely cause short-term volatility. But these fluctuations are precisely the windows for adjusting positions and optimizing strategies.

In plain terms: the more frequent the data releases, the more evident short-term volatility will be, but the medium-term trend will become increasingly clear—not rapid jumps, but steady strengthening.

The mentioned cryptocurrencies BTC, ETH, and ZEC all deserve attention to see how they perform during this phase.