The Federal Reserve just cut interest rates by 25 basis points, but the market's reaction is somewhat complex.

The UAE Central Bank almost instantly followed suit, also lowering rates by 25 basis points to 3.65% — not surprising, as the dirham is pegged to the dollar and essentially copy-pasted. But what’s truly interesting is the reaction from Washington.

Trump immediately jumped out to criticize: “This small cut is nowhere near enough! It could be doubled!” Directing his criticism at Fed Chair Powell. Such public pressure isn't new during his term, but the timing is quite delicate — happening when the crypto market is especially sensitive to macro liquidity.

Recently, ETH's performance has been quite tangled. Expectations for a technical upgrade are still there, but the funding environment remains tight. This rate cut should have been a positive signal, but Powell’s subsequent remark that “rate hikes are not entirely off the table” sounded too cautious. The US Treasury market responded honestly: the 10-year yield dropped by 4.1 basis points to 4.145%, indicating institutional bets on continued easing.

The question is, is a 25 basis point cut enough to move risk assets? Based on the bond market’s reaction, at least expectations are beginning to loosen. But for the crypto market, the real turning point depends on subsequent actions — is it a tentative rate cut, or the start of a series of moves?

Right now, the market is stuck here: rates have been cut, but the sincerity is in doubt; liquidity expectations have improved, but actual funds haven't truly flowed in. Secondary coins like ZEC, LUNA are watching cautiously, with volatility ranges narrowing.

What do you think this rate cut can bring? Will the Fed accelerate its liquidity injections next? Can ETH break through the pressure levels with this wave of expectations?