Interest rate cuts are implemented, but Bitcoin hasn't taken off?

Just now, the Federal Reserve cut interest rates by 25 basis points as scheduled, which seems to be a positive signal. But upon closer inspection, the voting results were 9:3, indicating significant internal disagreements. More importantly, the official policy outlook is quite conservative—there may only be one rate cut by 2026, far below the market’s previous optimistic expectations.

To put it simply, what really troubles the market now isn’t the act of cutting or not cutting rates itself. Instead, the U.S. Treasury market is bleeding heavily, like a giant pump drawing liquidity out of the entire market. This invisible pressure has a much more direct impact on Bitcoin than the rate cut policy.

Looking at the technical side, the chart is a bit uncertain. Funds from ETFs are also continuously flowing out, and institutional investors are showing little interest, with a strong wait-and-see attitude. These factors combined have cooled the market sentiment significantly.

Many experienced traders are privately discussing: if this adjustment gets out of control, it’s not impossible for Bitcoin to fall back to $60,000 or even lower. Throughout October, the market has been filled with a somewhat unstable atmosphere.

Risk reminder: Market volatility is increasing; pay attention to position control and risk management.