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The market is waiting for interest rate cuts, just like the bull market in the cryptocurrency circle: hoping for hard work, but it comes suddenly?

Powell's dovish tone has led the market to fantasize again: interest rate cuts are coming! The stock market instantly rejoiced, the bond market held its head high, and Bitcoin surged as if it had been injected with adrenaline.

The question is, can interest rate cuts really be implemented smoothly? The Federal Reserve has to ensure that employment doesn't collapse while also keeping an eye on inflation to prevent it from exploding, which is as difficult as "driving a car while cooking hot pot." If rate cuts are too aggressive, prices may rise again; if rate cuts are too slow, the economy may be dragged down to a trough.

The current mindset of investors is very delicate: on one hand, they are afraid of missing out on the interest rate cut trend, and on the other hand, they are worried about jumping in too early and becoming the "greater fool." The cryptocurrency market is especially sensitive, as if they are ready to go long at the slightest hint of dovish signals, but the result is often "up for three days, down for three weeks."

In summary: The expectation of interest rate cuts is like "the ambiguous text messages from a crush"; it seems likely to happen, but it may not truly materialize. The market should enjoy the current romance, but also keep a backup strategy.