The biggest game in the current overall market is the minutes of the Federal Reserve’s November monetary policy meeting that will be released in 24 hours (3 a.m. Beijing time on the 24th). Through this content, we can more clearly estimate the Fed's attitude towards raising interest rates in December and its considerations for the terminal interest rate in 2023. To put it bluntly, if the minutes indicate that the Federal Reserve will raise interest rates by 50 basis points or less in December, it will be a good thing. At the same time, if the maximum interest rate hike value (terminal interest rate) is expected to be within 5% in 2023, it will be a good thing. 5.25% is within expectations. Within 5.5%, it is considered negative.

Although the currency market is currently maintaining a pessimistic mood due to the thunderstorm of FTX, in the face of the big macro trend, it will be difficult for the current #BTC and #ETH to maintain a long-term independent market.