Recently, Asian family offices have attracted attention regarding their allocation strategies for encryption assets. At the same time, U.S. economic indicators and the direction of Fed policies have become the market focus. The latest data on initial jobless claims in the U.S. has provided investors with new economic references. Additionally, the release of the Fed's July meeting minutes has also brought new interpretation space to the market.

In this context, U.S. stocks related to the encryption concept generally rose, demonstrating investors' continued confidence in the field. However, the cryptocurrency market itself has seen a pullback, reflecting uncertainty in the short term.

The market's attention has now turned to the upcoming speech by Powell. Interestingly, it seems that the market has already reacted in advance to potential news, showing a downward trend. Investors are generally concerned about whether the market will further test the lows or experience a strong rebound after the speech.

Currently, market sentiment has been fully mobilized, and large investors seem to be shifting from Bitcoin to Ethereum. This change in the flow of funds has sparked speculation about whether we are about to welcome a small encryption currency season.

In the face of the current market situation, investors are weighing whether to participate or continue to observe. Regardless of the choice made, it is crucial to remain vigilant and rational in this ever-changing encryption market.