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#美联储启动新一轮降息周期 Let's discuss how macro policies are actually boosting the crypto market.
In the short term, expectations of interest rate cuts have already been priced in quite a bit. If market expectations are actually realized, Bitcoin could briefly surge towards 94,000. However, there's a common trap here—"buy the rumor, sell the fact." Once the expectation is fulfilled, a correction is likely, so caution is advised.
More importantly, if the central bank simultaneously promotes liquidity release (such as expanding its balance sheet), it could provide more direct support to the crypto market. Currently, systemic leverage has been reduced from around 10% to the 4%-5% range. The market has already undergone a round of deleveraging, and subsequent gains on this basis would be relatively healthier.
But risks are also present: if policy turns hawkish suddenly (for example, hinting at a pause in interest rate cuts), or if Bitcoin falls below the 91,000 mark, the bullish positions will face liquidation. Currently, the single liquidation volume could reach about $972 million. Once triggered, it could trigger a chain reaction.