#加密生态动态追踪 The Fed rate cut views in the crypto circle.

It looks good for now, but be cautious. The expectations of rate cuts have actually been priced in ahead of time. If things go as expected, Bitcoin might attempt to reach the $94,000 level in the short term. But the risk lies in — markets often like to "price in expectations and sell the news," so the pullback could be more significant than anticipated.

More importantly, there's the signal of the Fed's balance sheet expansion. Once it’s announced, market liquidity can improve directly, which is a positive for the crypto market. Currently, the systemic leverage ratio has dropped from 10% to 4%-5%. After the previous cleanup, the new round of gains will be healthier and more sustainable.

But don’t forget two pitfalls. First, if Powell’s speech leans hawkish — for example, hinting at a possible pause in rate cuts — the entire logic could reverse. Second, on a technical level, if Bitcoin falls below $91,000, the scale of long liquidation could reach $972 million, potentially triggering a chain reaction. Keep a close eye on these two risk points.