#降息预期 Rate cuts are here, but this time the story is more interesting than expected! 🎯

The Federal Reserve not only announced a 25 basis point cut but also launched an "invisible QE"—a $40 billion monthly treasury reserve management purchase program, which means liquidity is being continuously injected into the market. From balance sheet reduction to net injection, the policy environment has shifted more mildly than anticipated.

This is a positive signal for the crypto market because a loose liquidity environment usually boosts the valuation of risk assets. But there's something to be cautious about: weak employment data, consumer credit card debt surpassing $1.2 trillion, and average interest rates exceeding 20%—all warning us that behind the surface of friendly policies, there are risks of sluggish growth lurking.

To put it metaphorically, rate cuts are like giving the market an adrenaline shot, but the patient itself is weak. The fragility of the macro environment means market volatility could be amplified, and any negative signals might trigger more intense shocks.

So, the strategy at this moment should be: enjoy the liquidity dividend but stay sufficiently cautious. Don't be fooled by short-term gains; proper risk management is the right approach for long-term participation in the crypto market. In the era of decentralized finance, self-risk control is always the strongest moat.