The Federal Reserve's interest rate decision is imminent, but the crypto market has already entered a frenzy mode.

Before Wednesday's policy announcement, the market widely bet on a 25 basis point rate cut. This expectation is like an adrenaline shot for risk assets — Bitcoin is currently quoted at $92,300, up 2.3% in 24 hours; Ethereum is even more aggressive, surging 7% in a single day to $3,318.45, completely outperforming Bitcoin.

A rate cut should be positive news. But the problem is, such heavyweight policies often come with extreme volatility.

Many veterans are already calculating another scenario: when the rate hike actually hits, profit-taking might surge instantly. After all, the script of "good news is followed by bad news" has been played countless times in the crypto circle. Those who buy high may find themselves stuck at the top, unable to move long-term with high-priced tokens. Heavy losses are no exaggeration.

From a technical perspective, BTC has been oscillating within the range of $88,000 to $94,500 over the past week. These two key levels are like the ceiling and floor — once effectively broken, the subsequent direction will be mostly clear.

Now it's just a matter of whether it chooses to explode upward or break downward. The market is waiting for an answer.