The Federal Reserve's independence statement has sent an important signal.

Recently, the White House stated that even with new political developments, the Federal Reserve's interest rate decisions remain independent. What does this mean? Monetary policy is no longer swayed by Twitter opinions; whether to cut or raise rates will mainly depend on economic data. Market uncertainty is indeed decreasing.

From an on-chain perspective, several real-time signals are observed: exchange Bitcoin holdings continue to decline, indicating that HODLers are still holding tight; stablecoin reserves have recently rebounded, suggesting that potential buying pressure is brewing; the Fear & Greed Index remains neutral, with no signs of full FOMO yet.

Overall, macro risks are easing, and on-chain funding conditions are improving. A bear market is unlikely in the second half of the year. Short-term fluctuations are inevitable, but a phased approach to spot positions and buying on dips is a more prudent strategy.

Long-term in the crypto space, two dimensions matter: on-chain capital flows and macro policy directions. Currently, both signals are turning positive. The rest is patience and position management.

Stay calm, hold your positions well. $ETH