The Federal Reserve just delivered its third consecutive interest rate cut on Wednesday, meeting market expectations but signaling a more measured pace ahead.

Wall Street analysts had largely priced this in, but the real story lies in what's coming next year. The central bank's forward guidance suggests they're hitting the brakes on aggressive cuts—a shift that could reshape risk asset dynamics heading into 2026.

For crypto markets, this matters more than most realize. Rate cuts typically fuel liquidity flows into alternative assets, but a slowdown in easing could test current momentum. The Fed's playing it safe, which means volatility might be sticking around longer than bulls hoped.

Three cuts down, but the easy money era isn't back just yet. Markets will need to adjust expectations accordingly.