I found yesterday's Federal Reserve dot plot quite poor in understanding, as 7 officials indicated no rate cuts this year, while 8 indicated two rate cuts of 50 basis points this year, which is one less than the last dot plot indicating two rate cuts. At the same time, there are still as many as 7 who believe there will be no rate cuts, which is very unfavorable for US stocks and Bitcoin. The operations in June and July remain defensive, controlling the Position well.

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