The Federal Reserve raised rates by 25 basis points for the first time in three years, bringing the interest rate to 3.75%-4.00%, and it also hinted at another hike before year-end. Warsh said inflation has been too high for too long, and his tone is very hawkish. All three major U.S. stock indexes fell, oil prices plunged 3%, and gold couldn’t hold up either. Liquidity continues to tighten, which is not friendly for risk assets in the short term. But interestingly, Vitalik has just said that 90% of his net worth is in crypto—he talks like a bear and his body is being honest. $SOL $AVAX $LINK These lesser-known coins have recently held up better than the broader market; smart money hasn’t left—it’s just waiting for a signal. As for when the signal will come, we’ll see how it performs after Trump chats with the Gulf states and discusses Iran next week.