Entering late January, the crypto market will迎来 a series of policy information windows. Several key dates this week are worth planning ahead. Tuesday (1.20): U.S. stock markets are closed for Martin Luther King Jr. Day. The Federal Reserve has no specific liquidity injection plans, only routine liquidity operations—this does not signal a policy-friendly stance. For holders, this is an opportunity to buy the dip in stages at low levels, but set a 3%-5% take-profit line; rigidly chasing highs will only get you cut. Wednesday (1.21): The Beige Book will not be released; focus shifts to speeches by Federal Reserve officials. The market is especially sensitive to interest rate expectations, so follow your established plan, keep your positions flexible, and avoid being disturbed by one or two remarks. Thursday (1.22): Trump may issue statements related to tariffs; specific arrangements are still uncertain, but comments can easily stir market sentiment. The response is simple: first reduce leverage to stabilize risk control, and wait until the news is confirmed and the market direction is clear before making adjustments. Friday (1.23): The Federal Reserve's balance sheet report (H.4.1) will be released as usual, and the President of the New York Fed will also speak. These two pieces of information should be viewed together—whether the balance sheet is expanding or shrinking, combined with the tone of the speech, to comprehensively assess the situation. Never draw conclusions based on a single data point. Additionally, attention should be paid to the Bank of Japan's monetary policy meeting on January 26 (next Monday). The market generally expects the BOJ to keep interest rates unchanged, but the wording regarding inflation trends and future rate hikes is the key. Stick to routine risk management; there's no need for excessive hedging. The entire next week is a buildup to the FOMC meeting on January 27-28, which is a decisive moment. The core principles of operation are: build positions gradually, strictly control risks, avoid blindly following the trend, and stay away from unreliable news. The short-term fluctuations of Bitcoin and Ethereum largely depend on how these macro events unfold.

#美国核心物价涨幅不及市场预估 Market Snapshot for January 19 Early Morning Bitcoin continued to fluctuate last night, briefly surging to around 95,300, then faced profit-taking pressure and experienced a slight pullback. Currently, it is oscillating around 94,800. From a technical perspective, on the 4-hour chart, the Bollinger Bands are gradually opening downward, the MACD is also slowly declining, and the momentum bars show signs of shrinking. The KDJ indicator is weakening in tandem. The situation on the 1-hour timeframe is similar—Bollinger Bands are in a downtrend channel, the MACD histogram is sluggish, the energy bars are increasing in size, but the KDJ remains in a downward trend. Short-term strategy reference: $BTC: Encountering resistance in the 95,300-95,800 range, watch for support levels below at 94,200-93,200. $ETH: If facing resistance around 3,350-3,380, look for a decline towards the 3,300-3,270 range. The US core CPI data showed a moderate performance, which may continue to support market sentiment.