$BTC $ETH

A Fed rate cut alone is not QE or an M2 increase, but rising rate hike expectations work negatively, especially for liquidity sensitive assets like BTC and ETH. Right now, the possibility of a Fed rate hike is being priced. One this year. If Fed rate hike expectations rise, the market prices this as higher real rates, a stronger dollar, more expensive leverage, lower risk appetite, and lower duration appetite. BTC and ETH also feel this pressure in the short term.
That is why the black path in BTC still looks reasonable to me. ETH broke the first support line. Roughly, it can pull back first to the $1,300-$1,100 band. After this point, monthly closes are important.
This should not be forgotten. The market is currently pricing the possibility of a rate hike. If something like a rate hike becomes certain, everything can deteriorate.
The real factor that determines direction and stance in BTC and ETH is liquidity. Technical analysis is of course important, but it is essential not to forget the real determining factor