Yesterday's Federal Reserve meeting, the market currently focuses on two main points:

First: No more rate hikes to come, and there will be one more cut each in 2026 and 2027.
Don’t get caught up in arguments about “not cutting enough” or “not enough力度,” as those calculations are not ours to make. The only thing that truly matters is: the next two years are still in a rate-cutting cycle, and liquidity expectations haven't disappeared—that's the market's biggest confidence.
Second: Starting December 13, the Fed will repurchase 40 billion USD worth of short-term U.S. Treasuries each month.
This is the real “opening of the floodgates” signal. Previously, the Fed was continuously tightening, shrinking its balance sheet; now, stopping the balance sheet reduction in December and directly expanding it equals the central bank personally injecting liquidity into the market.
Don’t focus on the 25 basis points; the real positive signals are in the balance sheet.
Powell’s tone + actual actions are pointing in the same direction: easing is on the way.
In the short term, cryptocurrencies will still fluctuate; in the long term, the main driver will always be “new money.”
But it’s difficult to follow a trend in December for only two reasons:
The Bank of Japan’s rate hike expectations are already priced in (reflected in prices).
Year-end seasonal liquidity tightening (“Christmas crunch”).
Without new catalysts, the market can only rely on existing news to repeatedly shake out positions.
#美联储降息预测