QCP Capital's report pointed out that the Federal Reserve is expected to start a rate cut cycle tonight, cutting interest rates for the first time by 25 basis points to 4.00–4.25%. Although the market has priced in six rate cuts until 2026, investors are still paying attention to the dot plot and Powell's press conference. Despite the improvement in liquidity, the recent performance of the cryptocurrency market still lags behind traditional risk assets. It is worth paying attention to whether tonight's Fed statement can narrow this gap.
