The Federal Reserve's policy faces pressure, reflecting that the economic fundamentals may be worse than expected. According to reports, Federal Reserve Chair Jerome Powell recently revealed that the Department of Justice has been applying pressure on the Fed, and the tug-of-war over interest rate policies has noticeably intensified. Coupled with the fact that this year the Fed chair faces a term renewal, the market may experience greater volatility and even black swan risks. At this time, it is crucial to strictly control positions and absolutely avoid full leverage.

From on-chain behavior, BTC's recent turnover rate has fallen to a multi-month low, indicating a clear cooling of investor trading enthusiasm, with most people holding coins and observing. The short-term chip structure has not changed significantly, but it is worth noting that recently a whale made a large purchase of 26,900 BTC, with a transaction scale of $2.4 billion. Additionally, MicroStrategy CEO Michael Saylor released a Bitcoin tracking tool, which the market generally interprets as a signal of continued accumulation.

Thursday is of great significance to the crypto circle — the CLARITY Act, passed overwhelmingly by the U.S. House of Representatives in September last year, will be up for a vote on January 15. The core of this bill is to streamline the regulatory framework for crypto exchanges, broker-dealers, and market makers in the U.S., while shifting some activities originally led by the SEC to CFTC regulation. For many crypto entrepreneurs, this undoubtedly signals a lot of positive news.