#美联储降息展望 The Fed announced its first interest rate cut decision in the early hours of October 30, lowering the benchmark interest rate by 25 basis points to a range of 3.75%-4.00%, while confirming that it will officially terminate the balance sheet reduction policy on December 1. The decision saw two dissenting votes, reflecting differing views within the Fed regarding the current economic situation.

According to the official statement, the Fed believes that the current economy is in a "moderate expansion" phase, but has observed a weakening momentum in the employment market, while inflationary pressures continue to trend downward. To prevent further slowing of economic growth, the Fed has chosen to proactively adjust its monetary policy stance, releasing more market liquidity, and suggesting that there may be more room for future interest rate cuts.

The importance of this interest rate cut is not only in the magnitude of the rate reduction, but also in that it marks a significant turning point for U.S. monetary policy from tightening to easing. Historically, whenever the Fed initiates an easing cycle, risk assets typically benefit first, and the cryptocurrency market is particularly notable, especially mainstream crypto assets with high liquidity such as $BTC and $ETH.

The improvement in market liquidity essentially means an increase in available funds, which may prompt institutional investors and other capital to reassess and allocate risk assets. For the crypto market, this constitutes a phase of positive factors. Although short-term market volatility may still exist, the medium to long-term logic is clear: interest rate cuts usually lead to a relative weakening of the dollar, thereby driving up the valuation of crypto assets.

The macro environment is undergoing substantial changes: the end of the Fed's tightening policy will bring liquidity back to the market; at the same time, the gradual increase in market risk appetite also means that funds will gradually flow back into the cryptocurrency sector. These factors may become the starting point for the next wave of upward momentum in the crypto market.

Overall, the Fed's interest rate cut policy constitutes a direct policy benefit for the cryptocurrency market. Investors may need to remain cautious in the short term to respond to market fluctuations, but it seems more reasonable to maintain an optimistic attitude towards mainstream crypto assets in the medium term. It is recommended to reasonably control positions and make investment decisions in line with market trends.