#数字资产市场动态 Can the Fed's rate cut cycle really boost Bitcoin?

Recently, the market has been discussing this question. From a logical perspective, rate cuts mean abundant liquidity and increased expectations of dollar depreciation, which indeed support crypto assets led by $BTC. Historical data also confirms this several times: whenever the Fed shifts towards easing, institutions and retail investors seek refuge in non-traditional assets.

But it can't be said that rate cuts directly equal Bitcoin's rise. This year's market trend is obvious to everyone; macro factors are just one aspect. The real drivers are: inflows into spot ETFs, movements of large on-chain holders, updates in the Ethereum ecosystem, plus retail investors' emotional fluctuations.

To put it simply, the Fed's policies are indeed a positive signal, but they mostly create psychological expectations in the market. To grasp the trend, you still need to keep an eye on on-chain data and capital flows, rather than just listening to central banks.