J.P. Morgan: It is expected that the Federal Reserve will start cutting interest rates three times in September 2025, with each cut being 25 basis points.

Today is August 6, 2025. Let me present the conclusion first: I believe this round of the bull market cycle will end by the end of this year.
Why do I say this? The core reason lies in inflation in the United States. After Trump took office, inflation has shown signs of revival, and the possibility of rate cuts is becoming less likely. In other words, it is almost unrealistic to rely on liquidity injections to support the market in 2026. Therefore, looking ahead from now, Bitcoin may peak in October, and then give altcoins and ETH two months of performance time. December may be the last climax of this wave, followed by a downward trend. All the shows in the crypto space have already been performed, and audiences are gradually leaving, so there is no need for the host to continue this banquet.