It’s around 4 a.m. Eastern Time in the US right now. The situation is extremely unusual, so everyone shouldn’t pay too much attention to it; considering Trump’s visit to China, the meeting would most likely be in the evening, and today’s market-related headlines likely won’t see major fluctuations. The focus should be on the outcomes of the talks on the 24th—i.e., tomorrow. Based on some reports, the key foreign areas of attention are China-US trade, rare earths, and artificial intelligence. These three segments have probably already been partially settled, while the other topics can only be considered as reaching consensus. For our part, it basically comes down to waiting for information to leak into the public and then watching where things go next. Looking at the crypto market, things are clearly much steadier today. After reaching the new high of 87,385 on September 21, the recovery so far hasn’t been strong enough, the downside probing hasn’t been deep enough either, and there’s an intention to move upward. One more thing to note: if there’s another attempt to push higher, the pressure point isn’t the 90,000 level—it’s 92,000, the previous bull-bear pivot.

Recent market news leaks are increasingly focused on the bulls. U.S. Federal Reserve official Bairkin said: “Last week’s rate hike helped restore price stability. In the future, decisions on whether to hike again will be based on the data. The upcoming data will basically be determined by this meeting. Everyone doesn’t need to focus on other data; this meeting will directly decide whether the U.S. is going to remain in a rate-hiking cycle or return to a period of monetary easing. This is monetary easing, not a rate-cut cycle. You need to understand that. The practical stimulus that feeds into the crypto market is an intuitive capital inflow. Today, Bitcoin ETFs saw inflows of more than 700 million, and recent average inflows have stayed above 500 million. This is also the core support for this recent push higher. Under this kind of forceful impact, Lao Cui once again reminded everyone to be cautious: the market can turn at any time.”

Lao Cui’s summary: “Today I want to talk about a few views that many of you may not want to hear. Among users in China, many friends go looking for information, but they don’t filter it. Distinguish facts from opinions; distinguish data from emotions; look at different sources; don’t believe something just because it sounds ‘comfortable.’ Don’t ‘not believe anything,’ but instead know why you believe it and where its credibility comes from. For example: this rebound is driven by emotion rather than data, but the fact is that prices have already risen. Lao Cui’s bearish view is a personal opinion. And by looking at different sources, this event can also show many things—indeed, a portion of people have obtained information earlier than we do. When Lao Cui says this event will cause a rebound, it may sound uncomfortable, but the facts are as they are. Before the next round of rate hikes arrives, all predictions about the rate-hiking cycle are opinions; but this time the hike has become a fact. What kind of results it will bring depends on how it unfolds afterward. In the short term, Lao Cui’s strong pressure level is around the 92,000 mark. Based on my personal view, when the turning point occurs, you can judge the subsequent trend. Over the following week, a trend will form. Everyone, you can verify this view. If users want to enter the market, they must be cautious.”