#美联储启动新一轮降息周期 The Federal Reserve's restart of interest rate cuts has become the current core expectation. Looking at recent data, the performance of the three main cryptocurrencies—$BTC, $ETH, and $SOL —is quite logical—the level around 3420 can offset about 70% of the floating positions, indicating that the market's reaction to policy developments is still in the digestion phase. Once the interest rate cut expectation is confirmed, risk assets typically usher in a new round of repricing. Now is the window period waiting for definitive signals.