The expectation of interest rate cuts has been delayed, but the logic of a long-term bull run remains unchanged.

Content Analysis:
Although the Federal Reserve has not cut interest rates, the market still expects to initiate easing policies in the second half of 2025. The long-term bull run logic of the crypto market relies more on the global monetary policy trend shifting towards easing, institutional funds entering the market, and the popularization of tokenized assets. Therefore, short-term bearish factors do not change the long-term structural upward trend.
Market Impact:
After short-term fluctuations, Bitcoin prices are gradually stabilizing, and mainstream capital continues to focus on the supply contraction caused by the halving effect. On-chain data such as the number of addresses and the number of new users have not shown significant deterioration, indicating that the fundamentals remain robust.
Strategy Recommendation: Buying on dips remains the core of the medium to long-term strategy, with a focus on BTC, ETH, and infrastructure projects within the on-chain application ecosystem. For funds with a long-term allocation intention, the current period still represents a relatively favorable layout window.

#美联储5月利率预测