#美国证券交易委员会推进数字资产监管框架创新 $LUNA $ZEC

The Federal Reserve's recent move was truly surprising—after cutting rates by 25 basis points, Powell's entire speech tone was completely dovish. Usually, after a rate cut, the Fed Chair shifts to hawkish statements to balance market expectations, but this time, they did a complete 180, which is rare in recent years.

The highlights are in these details: First, the statement on inflation changed from "continued monitoring" to a stance of "maintaining at low levels over the long term"; second, the option of raising interest rates has been completely put aside, with the current Fed pace being either rate cuts or holding steady—two choices; additionally, the official clearly stated an intention to increase Treasury bond purchases to ease market liquidity pressure. Simply put, it’s a continuous easing posture.

Regarding the rising unemployment rate, the Fed partly attributed it to AI technology disruptions, but more space was spent arguing "this is not a long-term trend." The implied message is: don't panic, we will use liquidity to hedge.

What does this mean for the crypto market? It's quite straightforward—when dollar liquidity is abundant, funds will always seek an outlet. The stock market has already reached this level, and bond yields are not high, so high-volatility, high-yield crypto assets naturally become the preferred destination for hot money. $BTC, $ETH, these leading assets will be the first to attract attention, but as market sentiment warms, secondary coins are also likely to follow suit.

Some believe Powell turned dovish because of term considerations, but frankly, that’s not very important. For the crypto world, whether policies change is more directly impactful on prices than the reasons behind those policies. Liquidity easing → influx of funds into high-risk assets—that is a rigid logic.

The question is: how long can this rally last? Can $BTC break previous highs? Or will it follow a pattern of rising first, then falling? All depends on whether subsequent Fed actions align with the speech, and whether economic data supports this easing expectation. In the short term, market sentiment has clearly improved, but whether a lasting upward momentum can form depends on whether the fundamentals support it.