The Federal Reserve's rate cut and Powell's statements trigger market re-pricing, offering a turning point for risk assets like Bitcoin and gold.

【Bitcoin】The Federal Reserve plans to cut interest rates by 25 basis points, with 3 votes against. Powell’s subsequent statements have become the market focus—another cut in 2026, followed by a pause. However, the new Chair Kevin Hassett’s stance is more dovish, hinting that there may be more than three rate cuts, which brings new imagination to the market. Meanwhile, the Fed has launched short-term Treasury repurchase operations, with a monthly scale of about $40 billion. This move can lower real interest rates and release liquidity, providing mild positive signals for stocks, precious metals, and even cryptocurrencies.

The US dollar is relatively weak, while major currencies like the euro and yen show hawkish postures. The German 30-year government bond yield hit a new high, attracting capital flows into European assets. Precious metals performed strongly: gold just broke through the $4,300 mark, silver hit a record high, and platinum and palladium also refreshed their medium-term records.

Bitcoin oscillates repeatedly in the $92,000-$93,000 range. After significant ETF outflows earlier, the market is looking for support. Bloomberg hedge fund tracking data shows that institutional funds are preparing for a rebound. The DAX index has built a large consolidation pattern since June last year and is expected to break upward; the Hang Seng Index held above the 200-day moving average, possibly testing the support at 24,500 before reversing.