This year, the Federal Reserve has cut interest rates three times. Traditional financial theory tells us that lowering interest rates should boost risk assets, but the reality is: the market has already priced in all the positives.
The real issue is that liquidity has not flowed into crypto $BTC . Institutional funds are still watching, and retail investors have been severely educated by the crashes of the past two years. The locked value in DeFi is also continuously shrinking.
Lowering interest rates has only given traditional assets more room for imagination, while crypto still has to rely on its own narrative. At this stage, the macro impact is not that direct; it is more about on-chain activity and the willingness of new funds to enter.
The market will not automatically pump just because the Federal Reserve is flooding the market with liquidity; there still has to be real demand driving it.
Looking at this wave of FF, it actually seems more like a technical recovery rather than being driven by fundamentals.
The bullish signals from EMA and MACD are often lagging indicators for such small-cap projects, like driving while looking in the rearview mirror; you think you are accelerating, but you might have already reached the peak.
The concept of RWA integration is indeed good, but the key is to see the specific implementation. Many projects are shouting RWA, but very few have actually created differentiated products, and most are still at the PPT stage.
If I were to operate, I would focus on the FF/BTC exchange rate rather than the price against USDT. After all, small coins are most afraid of being double-hit when the market adjusts; the risk-reward ratio for going long at this position is not favorable.
It is recommended to wait for a pullback to key support levels before considering, or just watch and let the bullets fly for a while longer.
