Wall Street really can’t sit still this time.

On December 8, major banks like Standard Chartered and Bank of America suddenly changed their tune—they had previously sworn that the Fed would hold rates steady in December, but now they’re all predicting a "25 basis point cut." That’s an about-face if I’ve ever seen one.

What’s even more dramatic is the market reaction. CME data shot up to 89.6%, basically making it a done deal. Just a few days ago, the probability was hovering around 50%; now it’s practically a one-sided bet.

The timing is also interesting: the Fed meets on the 9th and 10th, with the results announced on the 10th. For all these institutions to switch sides right before the meeting—well, I have a hard time believing there isn’t some inside information at play.

For the crypto market, rising expectations of a rate cut usually signal looser liquidity. But the way Wall Street rushed to adjust their forecasts this time actually makes me think there might be more to come—after all, when everyone is on the same side, that’s exactly when you need to be cautious.