Ethereum fell into a prolonged range-bound oscillation last night, repeatedly tugging between $2940 and $3020, with an $80 volatility that left both bulls and bears feeling exhausted. Behind this relatively stable movement, subtle shifts in market sentiment are hidden.

From a fundamental perspective, the impact of Japan's interest rate hike has been largely digested. This recent realization of negative news has actually eased market suspense, leading to a reduction in selling pressure. Meanwhile, the US stock market performed relatively well, providing support for risk assets. More importantly, comments from White House economic advisors injected new imagination into the market.

Hasset recently publicly stated that the current inflation rate is only 1.6%, and the Federal Reserve has "ample room to cut interest rates." Once this statement was released, the market immediately responded: Is a rate cut cycle really about to start? BitMine surged 10%, and leading platforms like Coinbase also followed suit. Funds, sensing the easing policy, flooded into risk assets.

However, from a trend perspective, although negative news has been fully priced in and supported by the US stock market and policy factors, the overall trend of ETH has not undergone a fundamental reversal. This rebound is more of a short-term breathing space rather than a trend reversal signal. Future operation strategies need to closely monitor market dynamics, especially the Federal Reserve's actual decisions and further macroeconomic data.