⚡️Viewpoint: The Federal Reserve's recent rate cut has injected new uncertainty into risk assets, but it is not enough to trigger a Christmas rally for Bitcoin.

On December 11, regarding the FOMC meeting of the Federal Reserve, several analysts stated that this policy adjustment is more of a well-considered signal than a policy shift. They believe that this change by the Federal Reserve is similar to the cautious stance taken after the last rate-cutting cycle. They also noted that the Federal Reserve has raised its economic growth expectations while lowering inflation expectations, but also hinted that the threshold for further easing policies is higher.

Coin Bureau co-founder Nick Parkin stated that this rate cut "was not as hawkish as some expected," but there are many opposing voices, and the Federal Reserve's decision to only cut rates once next year "has injected new uncertainty into risk assets." He said, "This is not enough to trigger a Christmas rally for Bitcoin."

BRN's research director Timothy Misir believes that the pullback after the price drop reflects that the market "welcomes the price drop but does not accept the guidance." Misir noted that institutional investor demand remains strong, pointing out that since December 1, smart money wallets holding between 10 and 10,000 Bitcoins have accumulated approximately 42,565 Bitcoins. However, retail investors' selling continues to suppress the upward momentum. The question is whether ETF demand can continue to absorb supply before the macroeconomic situation becomes clear.