#美联储降息 $BTC $ETH Federal Reserve cuts interest rates, but the market has become even more bizarre

Superficially calm, but volatility data reveals the truth. The 25 Delta skew is still in the bearish zone, what does that mean? The most straightforward interpretation: nearly 60% of active buy orders are flowing into put options.

Many see rate cuts as a signal to rescue the market, but smart money's actions are completely opposite—they are aggressively adding to "defensive tools." This is not conspiracy theory, but a sign that funds are speaking through their actions: this round of rate cuts may not be so effective.

On one hand, macro policies are releasing liquidity; on the other, hidden dangers still exist. The crypto world has always been ahead of the data. While the news is still celebrating, deep participants have already begun to prepare for extreme situations. Whale accumulation is not bearishness, but reverence for the market— they understand that luck is never reliable.

Black swans never follow the usual rules. Those holding chips must think clearly whether they are holding convictions or betting on luck. Market opportunities are available every day, but those who actually reach the harvest day are always those who are well prepared.