Impact on the cryptocurrency market
1. Short-term benefits but caution is needed:

Expectations of interest rate cuts have been partially priced in. If they meet expectations, Bitcoin may experience a short-term surge (resistance level at $94,000), but one should be wary of the risk of "buying the expectation and selling the fact." 
If the Federal Reserve simultaneously signals an expansion of the balance sheet, it will directly improve market liquidity and promote a healthy rise in the cryptocurrency market after the leverage reset (the current system leverage ratio has dropped from 10% to 4%-5%).
Risk points: If Powell's statement leans hawkish (such as suggesting a pause in interest rate cuts), it may trigger long liquidation (if Bitcoin drops below $91,000, the liquidation strength of long positions reaches $972 million).#加密市场观察 #美联储重启降息步伐