#美联储降息 $BTC $ETH The Federal Reserve's rate cut has made the market even more bizarre

Surface calmness, but volatility data reveals the truth. The 25 Delta skew remains in the bearish zone, what does that mean? The most straightforward understanding: nearly 60% of active buy orders are flowing into put options.

Many see the rate cut as a signal to rescue the market, but smart money is doing the opposite—they are heavily adding to "defensive tools." This is not conspiracy theory; it’s money speaking through actions: this round of rate cuts might not be as effective.

Macro policies are releasing liquidity on one hand, but hidden risks still exist. The crypto world has always been ahead of the data; while the news is still celebrating, deep participants are already preparing for extreme scenarios. Whale accumulation is not about being bearish but about respecting the market— they understand that luck is never reliable.

Black swans never play by the rules. Those holding chips must think clearly: are they holding onto conviction or gambling on luck? Market opportunities are available every day, but those who make it to the harvest day are always the well-prepared.