This morning, friends who woke up to check the market may have been confused—The Federal Reserve clearly announced a rate cut, so why did Bitcoin not rise but instead fall? Could it be that this positive news is a trap?

Don’t rush to criticize the manipulators. The truth is actually hidden in the details; this move on the surface seems like a gift, but in reality, it poured cold water on the market.

**First Layer of Truth: Expectations Have Already Been Overdrawn**

A 25 basis point rate cut? The market had already guessed this with near certainty two weeks ago. Just like knowing your package will arrive today, there’s no surprise when you open it. Smart money had already repositioned early; once the news was out, they immediately took profits. The moment positive news is realized often marks the beginning of selling pressure release.

**Second Layer of Damage: The Future Faucet Has Been Tightened**

The more severe impact is yet to come—the dot plot indicates only one rate cut possible in 2026. What does this mean? The "liquidity feast" everyone anticipated next year is basically over. Funding costs remain high, the bull market lacks sustained fuel, and traders switch from celebration mode to cautious observation in an instant. When expectations diverge, panic emotions naturally spread.

**Third Layer of Underlying Currents: Internal Rifts Are Emerging**

Voting records show three officials opposed to the rate cut, some even advocating to maintain the current stance. Feds are beginning to show divisions, indicating that inflation pressures have not been fully alleviated. Once the "tightening" voice gains the upper hand, the crypto market dependent on liquidity immediately feels the chill.

In short, what the market fears most is not bad news, but "hope dashed." This rate cut saved face but drained substance—the true killer is future expectations. Opening the candy wrapper reveals a piece of cold, hard cake inside.