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【Behind the Federal Reserve's Rate Cut Drama, Crypto Assets Enter a Trust Rebuilding Era】

This morning, the market witnessed what a policy reversal looks like—cutting rates by 25 basis points and pumping 40 billion into the Treasury market. This combination should generally be very bullish, but instead, U.S. stocks jittered, Bitcoin plunged, and long-term Treasury yields rose. The market’s true reaction speaks volumes: the authority of central banks is quietly weakening somewhere.

Why did the rate cut suddenly become ineffective? Two core issues are blocking:

**First, the political interference is too strong**. Before the policy was announced, economic advisors openly "predicted" a 25 basis point cut; after the announcement, some outright said it was "far from enough." From behind-the-scenes pressure to overt criticism, the market quickly realized—this is not based on professional economic data; it’s clearly a power struggle. When the central bank’s tools become political chips, the trust framework begins to shake.

**Second, the true intent behind bond-buying operations is too ambiguous**. Denying it’s quantitative easing while injecting 40 billion, such transparent obfuscation makes investors even more uneasy. If the economy truly faces difficulties, why hide the bailout? This lack of transparency is itself a bad signal.

But for the crypto market, this signal might actually be a turning point. When traditional financial "referees" begin to lose public confidence, decentralized assets as a "parallel system" emerge as valuable. Just at this moment, the U.S. Office of the Comptroller of the Currency has relaxed restrictions, allowing traditional banks to participate in crypto hedging activities—meaning the pathway for mainstream funds to enter is clearing obstacles.

The market is shifting to a new game: no longer just expecting rate cuts to drive markets, but starting to reprice "sovereign credit risk." When central banks go from being the market’s stabilizer to political tools, shouldn’t your asset allocation be reconsidered? Perhaps crypto assets should have a greater weight in your portfolio.