#美联储货币政策走向 Although Bitcoin has broken through $89,000 in the past few days, I still don’t feel very secure. The ETF inflows have indeed provided some support, but there’s still considerable on-chain pressure, and a third of Bitcoin’s supply is still at a loss. In my view, this rally is mainly being driven by short-term speculators, while long-term holders and institutions remain on the sidelines.

Most importantly, the Fed’s stance is still an unknown variable. Although some are calling for a rate cut in December, the inflation data is still unclear. I’ve been burned too many times by “betting early” and getting stuck, so I won’t fall for it again this time.

For those new to the market, I recommend staying vigilant and not getting blinded by the short-term rally. Pay more attention to the fundamentals and long-term trends, and don’t bet your entire fortune. Remember, in this market, surviving longer is more important than making more money. Protect your funds so you can be ready when the real opportunity comes.