The Bank of England is set to follow suit this week. After the Federal Reserve took the lead in cutting interest rates, major central banks around the world are simultaneously easing monetary policy. The Bank of England is very likely to announce a 25 basis point rate cut this Thursday.

Market expectations are already very clear. Not only for this 25 basis points, but institutions are also looking toward the end of 2026, anticipating that the Bank of England will have more room for easing by then. In other words, this is not an isolated event but a signal that the global liquidity environment is undergoing a complete shift.

When major economies simultaneously turn on the "tap," where will the abundant liquidity flow? History tells us that these funds will eventually find their way into risk assets. As a high-risk, high-reward asset class, cryptocurrencies often receive stronger support in environments with ample liquidity. It now appears that the macro "tailwind" is taking shape.

However, this also warrants reflection—can central bank rate cuts directly boost the crypto market? Or is this just one of many factors? For leading cryptocurrencies like BTC and ETH, are their price movements primarily driven by macro policies, or do on-chain fundamentals and market sentiment play a bigger role? What does everyone think about the real impact of this global rate-cut wave on the crypto market?