The three major negative factors have been realized, and the market feedback has been absorbed. The US-Iran conflict remains the biggest uncertainty, suppressing any rebound. The market does not experience perpetual decline or rise; we are waiting for the situation to clarify, managing positions and waiting for the wind to come. The crypto market is quietly waiting for a direction. 1. The Federal Reserve not cutting interest rates—negative news has been realized. 2. The Federal Reserve Chair nomination—uncertainty has been realized. 3. The US government shutdown—negative news has been realized. 4. US-Iran confrontation—unknown? Among the known negative events, three have already occurred! For these events, the market has already responded accordingly. However, the biggest uncertainty—the US-Iran conflict—remains unresolved, which is the fundamental reason why there has been no effective rebound after continuous declines. But no market will keep falling or rising forever; after a storm, there will either be an even bigger storm or a restart! So, just wait quietly and wait for the wind to come! Managing a reasonable position is the most important!