Late at night, there was a blockbuster signal that the probability of the Fed cutting interest rates in December was approaching the 90% mark.

Let's look at the data first: US inflation expectations fell to 3.2% in November, and the job market began to show fatigue. The resonance of these two indicators has significantly tilted the Fed's policy balance. More importantly, Wall Street's major banks that were originally opposed to the tone have recently turned collectively, with both JPMorgan and Nomura quickly updating their forecasts, unanimously pointing to a 25 basis point rate cut in December.

This shift in macro narrative has long been smelled by the crypto market. If you look at the recent trends of ETH and BNB, you can see that funds have begun to be deployed in advance. What does it mean to cut interest rates? Liquidity is loose, the cost of capital is reduced, and risk assets naturally benefit. But then again, although the general trend is bullish, the hawkish voting committee is still watching there, and there may be some twists and turns on the day of the vote.

In addition, it is a reminder that expectations are often accompanied by violent fluctuations after being realized, which is an old rule. Now the market sentiment is high, and the popularity of some active projects on the chain is also rising, but don't blindly chase higher. In the days before and after the policy was implemented, it was serious to keep an eye on the position and control the risk exposure.

Do you think this wave of interest rate cuts is expected to last until the end of the year? Or will there be an accident halfway?