On the morning of December 1st, that wave of Plummet, many people didn't understand.

Around 7:30 AM, Trump announced that he would nominate a new candidate for the Fed chair, and then the market plunged. This logic sounds very counterintuitive—shouldn't the expectations for rate cuts be stronger with a new chair taking office? Why did the market drop instead?

I think there are several dimensions to consider: the first is the independence of the Federal Reserve, as the market is worried about political interference; the second is that although there are expectations for interest rate cuts, inflation concerns are rising simultaneously, which is unfriendly to risk assets; the third and more critical point is that uncertainty itself is driving funds out.

I remain cautious about ETH in the short term. Until the bearish sentiment is fully digested, I will primarily take a bearish stance. Of course, it's important to set a stop-loss level, as we've all seen what Old Trump is capable of with candlestick charts.