"Paul has frozen the alt season" ❄️
The Fed announced a 25 basis points rate cut, which sent a wave of joy through the market, but Powell's "wait and see" statement cooled that enthusiasm.
Bitcoin dropped from 116K to 115K, altcoins saw a 3–7% decline, and 177 million dollars in long positions were liquidated.
The alt season index is still stuck at 71/100, while whales are accumulating stablecoins. If more rate cuts come, a new altcoin super cycle could begin, but for now, the market is just trapped in a sideways zone.
