Last night, Hasett said a few words of "dove talk," and $ETH got excited. But looking closely: the US stock market, which should have reacted, remained motionless.
What does this indicate? It indicates that the sentiment in the crypto world is too sensitive, and a little rumor can stir things up. But everyone needs to be clear: the person in charge of the Federal Reserve right now is still Powell.
The market has been pricing in a rate cut in December for quite a while, and this "good news" may already be factored into the prices. Tonight's key is not whether there will be a cut, but rather "how Powell will speak." If his tone is hawkish (for example, hinting that the rate cut cycle won't be quick), then the "good news realization" could immediately turn into "good news fully priced in."
Historical experience tells us: when everyone thinks it's good news, it's often the time of greatest risk; the end of the meeting might just mark the beginning of a market reversal.
