The Federal Reserve meeting and Powell's speech this time are considered hawkish rate cuts, and the market also responded with a decline. The only good news is that the Federal Reserve will start expanding its balance sheet on the 12th of this month, planning to purchase $40 billion in short-term U.S. Treasury bonds, and continue with this easing for a period of time. The bad news is that the dot plot shows only one rate cut opportunity next year, so there likely won't be any cuts in January or March. This expectation will at least have to wait for the January meeting to see any changes. Additionally, Powell will step down in May, and he can only decide on matters during his term; the market will have to wait for the new chairman next year to continue with rate cuts and easing.

The most direct impact on the market is the door-drawing market, still contract-driven, making it hard for retail investors to see the direction. Those hoping for Bitcoin to go directly to 98,000 are waiting to reduce their positions, while those expecting a drop back to 80,000 to explore again are waiting to get in. Currently, it's a range-bound volatile market; those who don't want to speculate can leave at any time, while those who want to sell at a high point will have to be patient and wait a few more days.

Also, there is a high possibility of a rate hike by the Bank of Japan on December 19, and the market may likely see another wave of declines, so there isn't much to look forward to for this Christmas market. When Christmas really arrives, foreigners will be busy celebrating the New Year, and market liquidity will be even worse. Sister Bei has continued to liquidate her positions in Ray and BNB and has also reduced her Pepe holdings by 50%. Be cautious of risks and consider reducing positions at high points!

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