Is the Federal Reserve a fake dove and a real hawk? After the interest rate cut, the dot plot exploded with divergence, and institutions have quietly positioned themselves in crypto.

At 3 AM Beijing time, the Federal Reserve cut interest rates by 25 basis points as expected, but before the market had a chance to celebrate, the dot plot poured cold water on it. Among the 19 committee members, 7 felt that there should not have been a rate cut this year! Even Trump publicly criticized: "It's too little; rates should be lowered to the lowest in the world!"

While the Federal Reserve is easing, it emphasizes that the policy is still restrictive. Powell directly stated at the press conference: interest rates are already at a high neutral level. The implication is that while liquidity can be provided, the switch for easing is still firmly in their hands.

The internal disagreement within the Federal Reserve has been made public, with nearly 40% of committee members opposing the rate cut, indicating a lack of unity within the Federal Reserve.

Companies linked to the Trump family have surged into the top 22 of BTC holdings, indicating that the relationship between politics and crypto assets is becoming closer.

The CFTC chairman recently stated that Bitcoin can be used as collateral for derivatives, marking a new level of regulatory acceptance for crypto assets.

Institutions have been quietly moving in for a while now. Although they speak cautiously, many large institutions have been increasing their holdings in government bonds while quietly expanding their balance sheets. This kind of behavior, where they say one thing but do another, often means that the underlying funding environment is changing.

The current crypto market feels a bit surreal yet clear-headed: At the macro level, the views of doves and hawks are intertwined, creating a complex market sentiment; however, funds have quietly positioned themselves in MEME and new public chain tracks, just like the recently popular PUPPIES projects on Ethereum, which have already carved out their own markets while others are still hesitating.

So is this rate cut superficially dovish but actually hawkish, or superficially hawkish but actually dovish? When traditional finance becomes bewildering, the volatility and opportunities in the crypto market might just be quietly emerging from this uncertainty.

Market conditions change every day, and don't let your mindset get too tight. If you always feel a step behind and are afraid of being disturbed by market noise, feel free to chat with L聊天室. #美联储FOMC会议 #美联储重启降息步伐