Good evening everyone. I believe many people are confused by today's pullback.

The pattern is quite obvious: when the market drops, negative news comes out in droves; but when it rises? The same bad news is simply ignored. Those who understand the tricks behind this rhythm know what's going on.

First, let me explain why it fell today - I have outlined four core trigger points:

**The Bank of Japan's attitude suddenly turned tough**, and global liquidity tightened instantly. This matter has a significant impact.

**Trump said Powell might be out** and the market immediately panicked. Regardless of whether it's true or not, this kind of uncertainty is the most deadly.

**Regulatory actions have intensified domestically**, with increased crackdowns on crypto trading, which naturally puts pressure on sentiment.

**Yearn's yETH pool was attacked**, and the Ethereum ecosystem was directly affected, with significant collateral effects.

Where has it really dropped to now? Looking at the Ahr999 index: currently at 0.57, still some distance from the legendary bottom position of 0.45. The market is cold, but not completely frozen.

What is my judgment?

This round is likely the starting line of a new cycle, and we are currently in the consolidation phase. Don't rush; this state will probably last for another 1-2 months. When most people have cut their losses and completely given up, the real bottom will finally emerge.

What to watch for next? Inflation data. Whether the Federal Reserve will cut interest rates next year will directly determine if the main upward trend of the bull market can start.

What should be done at this stage? It's simple - stay calm, dollar-cost average into #数字货币市场回调 and $ETH, and don't let short-term fluctuations lead you by the nose.

There are several key time points to watch this week:

On Tuesday, Powell and Bowman will speak; on Wednesday, ADP employment data will be released; on Thursday, initial jobless claims will be announced; and Friday is the main event—PCE data, inflation expectations, and the Michigan sentiment index will all come together.

In conclusion: The harder it is to endure, the better the opportunity to accumulate chips. Stay calm; the bull market will not be absent.