In December, there are several events that may influence the market direction, which are worth paying attention to.

Let's talk about the interest rate cut first. Last week, market expectations soared from less than 45% to 80%, and Ethereum responded by jumping from $2800 to nearly $3100. But this morning, the tide turned suddenly - rumors are circulating that Powell might announce his resignation during his speech, as Trump has already nominated the next Federal Reserve Chair. The market immediately became tense again.

Looking at the tariff policy again. The tariff bonus distribution plan mentioned by Trump last month has not yet been implemented. If it can be finalized this month, it would be equivalent to injecting a large amount of liquidity directly into the market.

Personnel changes are also in the spotlight. Trump may nominate a new Federal Reserve Chairman before Christmas, with the leading candidate being Hasset—who shares Trump’s stance on accelerating the pace of rate cuts, which is a positive signal for the crypto market in the long term.

On a technical level, Ethereum will undergo a hard fork upgrade the day after tomorrow. However, such expectations are often fully priced in beforehand, and after the actual upgrade is completed, one should be wary of the risk of a pullback due to "good news being fully priced in."

The speech tonight will definitely have a significant short-term impact, but the Federal Reserve should have a contingency plan. To be honest, the market liquidity is worse now than when ETH was over a thousand dollars before, and overall it is still in a sluggish period.