Based on our assessment that Powell will deliver cautious hawkish remarks, we adopt a "sell high, buy low" range trading approach. The market situation is nuanced: on one hand, Bitcoin briefly broke through $75,000, but this was primarily driven by short covering with a lack of aggressive new long positions, making the upside foundation weak; on the other hand, implied volatility surged to 62% before the meeting as both bulls and bears bet on significant volatility, but volatility may drop sharply post-meeting.
1. Pre-Meeting (before 2 AM Beijing time on the 19th): Watch more, move less, or se
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