#以太坊行情技术解读 Many people find it a bit strange that the crypto market tends to fall right after the Federal Reserve announces a rate cut. In fact, the underlying logic is much more complex than it seems on the surface.

**The true short-term rhythm is as follows:**

After the rate cut decision is announced, $BTC and altcoins usually experience a quick surge—especially when the move exceeds 50 basis points and the dot plot shows a more "dovish" stance. A 5%-15% intraday increase is quite common. This is the market’s instinctive response to liquidity easing. But the turning point often comes when Powell speaks or a new dot plot is released. If the language hints that the pace of future rate cuts will slow down, the market quickly reverses—previously accumulated "expectation of easing" is rapidly re-priced, risk assets start to give back gains, and may even turn downward.

**Three forces are at play behind the scenes:**

First is **expectation differential trading**. The rate cut itself has largely been priced in already; what truly controls the direction is "what happens next"—whether there will be more cuts or a pause, and whether the language is dovish or hawkish. Second is the **mixed macro signals**. The Fed emphasizes resilience in inflation or employment data while cutting rates, which can shake market confidence in continued liquidity easing. Add to that **leverage and whale manipulation**: high-leverage short positions are triggered to cover during short-term rallies (pushing prices higher), then long positions are liquidated (accelerating the decline). Large traders withdraw coins during this period, creating liquidity gaps and amplifying volatility.

**The fundamental logic is actually quite simple:** the crypto market isn’t fundamentally concerned with "whether or not there will be a rate cut," but rather with "whether the rate cut is more or less than expected, and how much is said." Coupled with leveraged contract market triggers and strategic moves by whales, a rate cut can even cause a decline—this kind of "reversal" is how it’s born. The market always plays the game of expectations, not just the outcome itself.