JPMorgan just released an interesting research report—after the Fed cuts rates, U.S. stocks might be in trouble.

While many people are still celebrating as the Nasdaq hits new highs, they haven't noticed that institutions are busy cashing out profits by year-end. The question is: where is all this withdrawn money going? Don’t naively think it’ll just sit obediently in money market funds.

Take a look at history and you’ll understand. Back in 2019 when the Fed shifted its policy stance, Bitcoin surged from a bit over 3,000 to 14,000. The logic is simple—the stock market is too crowded at high levels, and rate cut expectations open the floodgates for liquidity, so hot money has to find a new outlet. Now, with oil prices falling and wage growth slowing, the Fed has obvious room to cut rates.

The crypto market is basically a super reservoir. Once traditional finance starts loosening up, the first assets that come to mind are those with high elasticity like crypto. Not to mention anticipation around Bitcoin ETFs, plus new narratives like AI + blockchain are brewing—any pullback is actually a buying opportunity.

To put it plainly: don’t panic and rush to sell at a loss right now. Hold onto your spot positions, and stay away from leveraged derivatives like futures unless you really know what you’re doing. Focus on Bitcoin, and also keep an eye on top projects in the AI narrative and blockchain gaming sectors. If prices drop, buy in batches—maintaining a steady mindset is what lets you profit.

Bull markets always start quietly amid widespread pessimism. By the time everyone is shouting “this time is different,” the real opportunities are already gone.