#美联储降息政策 The Fed's rate cut this time seems to meet expectations, but the underlying signals are worth caution. A 75 basis point annual reduction sounds significant, but the dot plot shows only one rate cut next year. Can you tell how steep this shift is?

The key lies in the phrase "preemptive rate cuts have reached their limit." After years in the crypto space, I've seen too many people misled by macro factors—seeing rate cuts and thinking prices will skyrocket, while ignoring that the labor market is the real decisive factor. Powell made it very clear: inflation is still high, and although the labor market is cooling, it's not weak enough yet. What does this mean? It means the next story depends entirely on employment data, not the Fed's policy intentions.

The Bitcoin drop from 94,000 to 91,000 is the best example—expectations materialized, turning into a signal that the good news was already priced in. The internal divisions within the Fed still hint that the willingness to continue cutting rates is low. This is not a bullish signal; it's indicating that policy space is limited.

My simple advice: don't let the word "rate cut" hijack your judgment. What you should really focus on is the monthly non-farm payroll data—that's the key to the next direction. At this point, the risks and opportunities are equally high, but only if you understand what you're betting on.