This week, central banks around the world are holding meetings en masse, and the long-awaited rate cuts are about to land—but do you really think this is bullish news?

Let’s start with the Fed. A 25 basis point cut? The market saw that coming a mile away. What really matters are those few words after the meeting. If Powell suddenly puts on a tough face, emphasizing "inflation isn’t dead yet" or hinting "don’t expect consecutive cuts going forward," the whole narrative could change instantly. This kind of "dovish on paper, hawkish at heart" move could actually slam risk assets down hard.

Just look at the US stock market—on Monday, all the major indexes dropped in unison, and investors hesitated at the table. The bond market is the same; everyone’s waiting for the other shoe to drop after the rate cut. If there’s a split in the Fed’s internal vote, things could get really interesting.

Japan has thrown in a new curveball. A powerful earthquake struck, and the currency market reacted instantly. If the disaster worsens, the Bank of Japan’s planned policy adjustments might have to be postponed, forcing global capital flows to be recalculated.

As for the others? Australia, Brazil, Switzerland, and Canada are all expected to hold steady. With economic data unclear, central banks are choosing to "hold the line for now." Europe is even more dramatic—an official actually came out and said "we don’t rule out a rate hike." As soon as that hit, the market nerves tightened even more.

The bottom line is, the market has already priced in the rate cuts. Now everyone’s watching the follow-up signals: What’s the Fed’s next move? Will other central banks suddenly change course? Add in geopolitical risks and unexpected events, and this week’s volatility is almost a given.

Crypto, as a highly sensitive asset, will probably ride the rollercoaster along with traditional markets. My advice: keep your trading to a minimum and observe more during these days—don’t rush to buy the dip or chase the highs. When market sentiment is unstable, surviving is more important than making a quick buck.