The Federal Reserve holds interest rates steady, BTC keeps its temper, this is accumulation, not backing down.

The market has a bad habit: As long as there’s no rate cut, it’s considered the end of the world. But after trading for a long time, you’ll find that the real danger isn’t 'high interest rates,' but when expectations are suddenly proven wrong. And this time, the Federal Reserve is almost playing out the script.

So my simple judgment on the current market is: 👉 Defensive stance is a strategy, not an emotion. What does BTC resemble most now? Like a mid-term phase that has completed the main trend and is waiting for macro signals. It’s not eager to rise because there’s no liquidity boost; it’s not easily falling because the chip structure isn’t loose. The real pressure is on altcoins. Especially those projects that rely on emotion in the last cycle and lack logic in this one.

In a high-interest-rate environment, the market is only willing to pay for three things: * Certainty * Scarcity * Verifiable growth BTC covers two, ETH covers two and a half, many altcoins are missing one entirely.

So how do I view the time dimension? * Short-term: Suppression exists, but it’s sideways pressure, not downward pushing * Mid-term: Digesting high-interest-rate expectations over time, waiting for the next macro turning point. A veteran trader’s honest words: The real big move always brews quietly when everyone 'loses patience.'