The Fed's interest rate decision meeting in the early morning maintained the benchmark rate unchanged, keeping the rate corridor at 3.5%-3.75%, which basically aligned with market expectations. The key focus is that the latest dot plot still only reflects one rate cut expectation for the year, while simultaneously raising inflation estimates, indicating that the Fed remains highly vigilant about energy price increases, geopolitical risks, and the stickiness of U.S. inflation.

Powell's remarks were overall neutral with a slight hawkish lean. He did not signal a clear timing window for rate cuts, but repeatedly emphasized the need to "wait for more data confirmation," particularly highlighting that recent oil price increases could reignite inflation. This suggests that near-term liquidity easing expectations are being suppressed. Markets had hoped for more dovish signals, but following the speech, the dollar and U.S. Treasury yields strengthened, with risk asset sentiment cooling noticeably.

For the crypto sector, this "holding steady but not rushing toward easing" stance will keep Bitcoin and Ethereum under near-term pressure. Bitcoin showed a pullback following the announcement, indicating that high-level capital is taking profits, with short-term trading likely continuing to oscillate around sentiment levels; Ethereum, with greater volatility elasticity, typically experiences stronger selling pressure than Bitcoin. If markets cannot quickly recover key resistance levels subsequently, it will likely continue the pattern of shakeout followed by directional choice. However, in the medium term, as long as rate cut expectations are not completely abandoned, there remains potential for capital inflow after pullbacks. #美联储维持利率不变 $BTC