Morgan Stanley has recently adjusted its expectations for Federal Reserve policy—analysts now anticipate the rate cut cycle will begin in June of this year, followed by another adjustment in September. This shift reflects the latest changes in inflation data and economic growth. For the cryptocurrency market, a shift in Fed policy often signifies a major turning point in the liquidity environment. Expectations of rate cuts typically boost valuations of risk assets, and these changes are closely monitored signals by institutional investors. The market has already begun to digest these expectations, and capital allocation patterns are adjusting accordingly. Recent developments in US economic data and inflation indicators will directly influence the final confirmation of the rate cut timetable.