Market expectations for a rate cut by the Fed in September have somewhat receded, but have not completely vanished. The true direction still needs to await the release of August's economic data. This adjustment in short-term expectations has instead left room for a future policy shift, making August an important period for observation and positioning.

At the same time, the upcoming tariff negotiations may trigger emotional fluctuations, and if signs of easing emerge, they could become a catalyst for market gains. For spot investors, such critical moments often provide a good opportunity to buy at low prices. What matters is not whether there is an increase at the moment, but whether there is potential for growth in the future.

From the current market trends and changes in information, the flow of funds has indicated the attitude of investors — those assets that truly have anti-drawdown ability and resilience are still those supported by ETF concepts and substantial consortium backgrounds.

This trend has been repeatedly validated since July, and it still seems clear: cryptocurrencies lacking a narrative, capital support, and exit channels are difficult to form a major upward trend; while those with good narratives and capital support are the main direction that is most worth trading repeatedly and buying at low prices in this cycle.

Recently, the SEC officially announced the rules for spot ETFs, which is an extremely important signal. Although it may not immediately trigger a market explosion, it is an important indicator for large funds to adjust their investment portfolios in advance.

Therefore, the current investment strategy can be summarized as follows: follow the trend, do not go against the market; focus on structure, do not follow public opinion. The market has not ended, but is re-selecting participants that can exist for the long term. Cryptocurrencies that lack substantial support have already found themselves on the fringes; while truly noteworthy opportunities are quietly brewing.

Bitcoin, Ethereum, and Solana are all cryptocurrencies worth paying attention to and positioning for. Investors should closely monitor the trends of these mainstream crypto assets and seize potential investment opportunities.