The Federal Reserve announced a 25 basis point reduction in the benchmark interest rate in its latest rate decision, but the downward revision of rate cut expectations for 2025 reshaped market sentiment. Powell emphasized that the policy has entered a 'new phase', causing U.S. stocks and the cryptocurrency market to plunge simultaneously, with Bitcoin dropping nearly 5% within 24 hours, reaching a low of $100,256. The Federal Reserve's negative stance on strategic Bitcoin reserves further dampened market sentiment, sharply contrasting with Trump's strategy of establishing Bitcoin reserves.

Despite this, on-chain data shows that BTC supply tightness is intensifying, with exchange balances continuing to decline. There is a chance for a rebound in the next 48 hours!