#BTC与代币化贵金属对比 $LRC

Why did the crypto market not rally but instead plunge after the Fed cut interest rates by 25 basis points?

Early this morning, the Fed announced the cut, instantly crushing the market’s expectations. $BTC, $ETH did not surge as anticipated; instead, they plummeted and continued to fluctuate. Wall Street and Trump couldn’t stay calm. Seeing this scene, it feels like the rate cut is not a lifeline for the bull market but more like a cold shower for the bulls.

Why is this happening? Two core points make it clear:

**First, surface dovishness with an all-hawkish core.**

Powell said the rate cut was 25 basis points, then added, "The economic fundamentals have not changed significantly." Those in the know understand what this means—if the faucet just opens a tiny crack, can we still expect loose policies? Not likely. The market’s enthusiasm cooled off accordingly. The expectation of long-term easing was built in, but with this limited move, who can be happy?

**Second, it’s a no-win situation.**

Trump criticized the cut as insufficient, and Wall Street and crypto circles were even more confused. This rate cut gift, caught between hawkish warnings, feels awkward whether you accept it or not. No one can predict how the market will move next.

Some might ask: rate cuts are supposed to be good for markets, so why did $BTC and $ETH fall instead?

This is the market’s old trick—**"Buy the rumor, sell the fact."**

Previously, crypto prices kept rising as everyone bet on the Fed continuing large-scale easing. Now that the policy is actually implemented and expectations are fulfilled, a wave of profit-taking is coming out. Who’s still foolish enough to buy the dip? More importantly, the market’s focus has shifted. If interest rates stay high for a long time, what justifies the inflated valuations of these risk assets? Everyone is questioning in their mind.

In short, this rate cut is not a rallying cry but a warning bell. Macro uncertainties still loom overhead, and the market direction has become unpredictable.

What do you think about the current trend? Bottoming out or clearing positions? Share your thoughts in the comments.