After the sharp drop in BTC, Wall Street is starting to reprice the "rate cut dream"

One of the most awkward things in the market recently:
Everyone is shouting bull market, but their actions are honestly fleeing.
Last night, after BTC fell below $80k, many people's first reaction was "something happened in the Middle East."
Indeed, the U.S. military retaliated against Iran attacks in the Strait of Hormuz, quickly boosting global risk aversion.
But the real issue is actually interest rate cuts.
Because the biggest supporting logic in the entire market right now is: The Federal Reserve will eventually cut rates.
But if Middle East conflicts push oil prices higher, U.S. inflation might rebound.
What about rate cuts then?
Just postpone them.
So Wall Street started repricing last night.
Risk assets collectively came under pressure.
But there's a detail worth noting:
Although BTC fell below 80k, there was no panic crash.
This indicates that large funds are still watching and waiting.
Many institutions are actually waiting for tonight's non-farm payroll report.
If the data weakens, the market will rebet on rate cuts within the year, and BTC could rebound quickly.
But if the data remains strong, the market might face a second round of adjustment.
So now the entire market looks very much like a psychological warfare:
The Fed watches inflation;
Wall Street watches non-farm payroll;
Retail investors watch margin call messages.
And BTC has become an emotional amplifier.
It reflects risk appetite as well as liquidity expectations.
So don’t just see it as a non-farm report; what’s really decided behind the scenes is:
The short-term direction of the dollar, interest rates, oil prices, gold, and BTC. #比特币跌破8万美元