Is the interest rate cut window really going to open in December?

In the past week, several Federal Reserve officials have made statements that suddenly make the possibility of a 25 basis point rate cut seem less distant. But to be honest, it's still early to draw conclusions—employment data is right there, the labor market remains resilient, and the central bank is likely to continue to observe.

The market performance is also quite subtle. The main index has stabilized for the time being, but the trading volume has clearly shrunk, with funds showing a strong wait-and-see attitude.

What needs to be closely monitored right now is the holding actions of giants like BlackRock. If institutions continue to reduce their BTC holdings, then the volatility is likely to persist in the short term. After all, the recent sharp decline has already forced many to cut their losses and exit the market; now is the time to test patience. Strategically, one can focus on those assets that are resilient and have solid fundamentals, and it won't be too late to enter once they truly stabilize.