Feilong Daily | May 23, 2026 Negative sentiment is accumulating, and a bearish trend is underway .. (1) US Iran restarts war warning King Dong is preparing to launch a new military strike against Iran Iran has closed its airspace, claiming to be preparing for the resumption of war The negotiation draft is repeatedly revised every day but there is no progress → it is deadlocked Iran emphasizes that if the agreement involves highly enriched uranium, it will not be discussed Oil prices are already soaring, and geopolitical conflicts are intensifying (2) The expectation of interest rate cuts has completely cooled down Former Federal Reserve Governor Waller said: It's crazy to talk about interest rate cuts now Traders fully consider raising interest rates by 25 basis points by the end of 2026 The trend has shifted from interest rate cuts to rate hikes, but it is unlikely that the actual implementation of rate hikes will be realistic We will focus on the CPI data for June 11th and the FOMC interest rate decision for June 16th (Walsh's debut) (3) Delay in tokenization of US stocks Yesterday, the SEC postponed the tokenization of US stocks. Project approval → Short term bearish ONDO and HYPE fell in response, with veteran Arthur Hayes depositing 115400 HYPE into CEX, smashing the market But it's only a matter of time, it's not a big problem (4) Summary Be honest and wait for the news of 6.11 CPI+6.17 FOMC. There is still an IPO of Lao Ma in June Elon Musk may become the world's first billionaire to surpass a net worth of $1 trillion in June At present, we can only go short at high prices and short positions in spot markets. Please be patient and wait until we see the expectation of interest rate cuts and the conflict between the US and Iran. According to cyclical theory, the bottom of this round of decline is expected to form at the end of June to July, and is expected to be in the range of 49000-55000!