When the economy is like a turtle that can't crawl anymore, lowering interest rates is not a remedy, but rather an anesthetic— the cryptocurrency market should be wary of the awakening pain after the short-term revelry.

【Plain Language Interpretation】

David Kelly from JPMorgan just poured a bucket of cold water: the U.S. economy is like a turtle gasping for air, with poor employment data in August and an overall weakness that’s nearly at the breaking point. Although it hasn't officially entered a recession yet, even if the Federal Reserve lowers interest rates, it won't save the economy—retirees will see their income shrink, and companies are reluctant to borrow money for expansion. History has proven that lowering interest rates doesn't drive growth (refer to the reality that the monetary easing after 2008 was essentially useless).

【Impact on the Cryptocurrency Market & Personal Views】

In the short term, the market gets excited at the mention of "lowering interest rates"; Bitcoin may rebound along with U.S. stocks (after all, the old trick of speculating on liquidity expectations). But in the long term, be cautious: if the economy truly stagnates, institutional funds will become more cautious, and retail investors' confidence will be shattered by rising unemployment—cryptocurrency assets cannot thrive in isolation.

My view is even harsher: the Federal Reserve lowering interest rates is not the lifeline for the cryptocurrency market, but a "fake move." Once the economic foundation is rotten, monetary easing will only cause hot money to briefly speculate in risk assets before fleeing even faster. Don't forget that when the interest rate hike cycle collapsed in 2022, Bitcoin fell harder than U.S. stocks!

If you think lowering interest rates is the switch for a bull market, you might want to consider: when the effect of the Fed’s measures wears off, who will be left swimming naked? Leave your bottom-fishing plans in the comments and see if I can hit your blind spot #美联储降息预期