#美联储货币政策 Analyzing multiple data sources, the Federal Reserve's expectation of a rate cut in December has significantly increased. Weak ADP data and strengthening signals of a cooling labor market. Polymarket shows a 94% probability of a 25 basis point rate cut, and a Reuters survey also supports this view. Market sentiment is optimistic, and cryptocurrency prices are generally rising. However, caution is needed against excessive optimism, and attention should be paid to the employment data released tonight, which may cause volatility. It is recommended to closely monitor capital flows and large account activities to assess the actual impact of market sentiment changes on cryptocurrencies.