Market Analysis:

The current market is in the bottom-fishing stage following a thorough restructuring, with gold dropping to a low of 4,500 USD amid intense competition between "interest rate suppression" and "geopolitical risks," while the crypto market is testing critical support levels amid panic sentiment.

Macro Information: #美联储维持利率不变 #Gate13周年全球庆典
1. The Federal Reserve's decision not to cut rates is the core reason for gold price pressure. Gold has fallen for 7 consecutive trading days. After gold broke below the key psychological support of 5,000 USD, bullish confidence collapsed, with retail and institutional investors simultaneously following suit to sell off. Gold ETF funds experienced significant outflows, further amplifying the downward momentum, until modest buying emerged around 4,650;

2. From a medium to long-term perspective, the persistence of geopolitical tensions may lead to global economic growth slowdown, triggering global fiscal and monetary stimulus measures. Market concerns about US fiscal sustainability continue to intensify. Global central bank reserve asset diversification and de-dollarization processes continue to advance, which will open up room for gold appreciation;

3. Currently, BTC is oscillating around the 70,000 level with declines far smaller than previous similar macro shocks, while continuous ETF net inflows provide strong support for the market. Ethereum is testing the key support zone of 2,100 USD, with strong buying support near this price level;

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Special Reminder: Current market volatility is severe, bearish factors are still being digested. Gold to remain on the sidelines awaiting bottom formation, crypto to strictly control positions without bottom fishing, stop losses must be in place.