CME's data is quite interesting—the probability of a rate cut at the FOMC meeting in 7 days has soared to 87%. Even more crucially, a couple of days ago, the former president publicly announced his pick for the next Fed chair, and it's a textbook dove (after all, that's his hard requirement for the role).

In recent days, the crypto market has been rising alongside US stocks, driven by two core reasons: a possible real rate cut in December, and a dovish Fed chair taking over in May next year. Just look at the net inflows into Bitcoin ETFs—capital is literally voting with real money. But honestly, the current inflow volume can't compare to the previous peaks.

So, for those who bought the dip, my personal suggestion is to take some profits when appropriate. My impression of this rally is that the bullish news has already been priced in. And even if Powell is really forced to cut rates this time, he's still very likely to make hawkish comments in the latter half.

My judgment might not be 100% accurate, but when it comes to trading, you have to be responsible for your own money. A small profit is better than a big loss, right?