#BTC与代币化贵金属对比 at 3 a.m. tonight, an important meeting on global asset allocation is about to take place - the release of the Federal Reserve's decision.

A 25 basis point rate cut is basically a routine operation within expectations, but it is actually the official words that really determine the direction of the market. A dovish sentence, the market may open champagne; A hawkish sentence, assets dive in minutes.

This time, internal divisions are particularly obvious: on the one hand, there are concerns about employment data and advocate continued easing; On the other hand, there is a fear of a rebound in inflation and a tendency to maintain the status quo. There is a high probability that there will be some unexpected signals in the dot plot - whether interest rate cuts will continue this year will become ambiguous, and the number of opposition votes may also refresh expectations.

The impact on the crypto market will be divided into several levels:

**Short-Term Shock (Tonight to Tomorrow Morning)**
The interest rate cut policy itself may not be good. If the Fed signals that it may pause interest rate cuts, the market is immediately at risk of a sharp decline. Futures traders need to pay special attention to their risk exposure during this period.

**Medium-term Critical (Coming Weeks)**
The key is whether the Fed restarts balance sheet expansion. Once liquidity starts to be released, this is the real fuel that drives up asset prices.

**Long-term trend (coming months)**
Short-term fluctuations are inevitable, and the market may experience significant fluctuations, but as long as the liquidity environment turns loose, there will always be funds to undertake the bottom price. The general direction of the bull market should still be there.

The question now is: will you choose to settle in tonight, or will you wait for the adjustment of the dip layout? It depends on your judgment of the Fed's attitude.