The Federal Reserve began a 50 basis point rate cut as scheduled, and the rate cut cycle officially began. Global liquidity will enter a new easing cycle. Affected by this, global stock markets rose collectively, the S&P 500 and Dow Jones Index continued to hit record highs, and stock markets in the Asia-Pacific region performed well. The crypto market enjoyed the dividend of the rate cut, and the price of Bitcoin broke through US$66,000. A new round of upward trend may be brewing.