Tonight, I waited to check out the Fed's meeting minutes. To be honest, I wasn’t too interested in the content of this report. Even before reading it, I knew the market would latch onto the rate hike expectations from the last meeting. But in reality, the core focus of the recent meeting’s rate hike discussion was still inflation. The minutes did mention that three members wanted to directly raise rates by 25 basis points, and many members believe that if inflation doesn’t come down, further tightening will be necessary. Right now, the main driver of renewed inflation risks is the energy issues caused by the U.S.-Iran conflict. The Fed explicitly mentioned that if the Middle East conflict drags on, supply chain problems and inflationary pressures could persist. So, I think the Strait of Hormuz is the key factor in determining whether the Fed will choose to hike rates. In other words, as long as the Hormuz issue gets resolved and oil prices come back down, the market’s current fear of inflation rising and forcing the Fed to continue hiking rates will no longer hold. So instead of focusing on whether the Fed will raise rates, I’m more interested in when Hormuz will return to normal. Right now, the main pressure is on Trump. Tonight, Bitcoin randomly surged to $68,000, and we still don’t know the exact reason. But for now, it seems like bitcoin:native’s price stability is pretty strong. We can even tentatively consider the $60,000 range as a likely bottom for this phase. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all in one place for trading.