😎🤍

Oh man, we already knew that a 25 basis point cut was coming before the FOMC meeting, so most traders were positioned ahead of time. As we expected, Powell remained cautious, and that’s exactly what happened yesterday. Because of that, BTC didn’t rise and didn’t fall sharply either. The movement was stuck in the middle.
The part that many people missed is the Treasury bond update. Powell confirmed that the Federal Reserve will start buying short-term Treasury bonds beginning December 12, and reiterated that this is only for "reserve management" and not quantitative easing. Although he tried to downplay it, this still adds some liquidity to the system. This quiet support is the main reason why BTC hasn’t pulled back deeper. Usually, with this kind of cautious tone, BTC was expected to drop faster, but the market sees that the Federal Reserve is ready to manage liquidity if necessary, so the decline remained limited.