After the Federal Reserve cut interest rates, Bitcoin actually fell sharply, which seems unusual but actually had signals beforehand. There are three main reasons, with the core being the market's expectations falling short rather than the news itself.
1. The good news had already been priced in, and the announcement became a selling opportunity.
The interest rate was cut by 25 basis points to 3.50%-3.75%, which was completely expected by the market. Like a long-promised reward finally being issued, it brought no surprises. Funds were positioned in advance, and after the news was announced, there was a direct 'sell the fact,' leading to increased selling pressure.
2. Future easing expectations have significantly weakened, and the bull market logic is damaged.
The Federal Reserve hinted that there may only be one interest rate cut in 2026, which is far from the market's expectation of 'continuous rate cuts and liquidity flooding.' Since there is no hope for monetary easing next year, the expectation of a bull market driven by liquidity has collapsed, and many bulls have exited.
3. Disagreements within the Federal Reserve have become prominent, and policy uncertainty is rising
This time there were three votes against the interest rate cut, and some even argued that rates should not be cut. The internal contradictions indicate heightened concerns about inflation rebound (especially in light of factors like government changes), and the market fears that subsequent easing may stall, putting pressure on risk assets.
In summary: while interest rate cuts are "good news", the market has already priced them in; the drastic reduction in expectations for future easing and policy disagreements have instead revealed that the outlook is worse than anticipated. The decline in Bitcoin is a direct reaction to the "failure of expectations"—the market is not afraid of bad news, but rather of shattered hopes.#加密市场反弹
