As long as interest rates are lowered, we'll see how things go next year.

Two major events occurred overnight. The Federal Reserve announced a 25 basis point interest rate cut. Additionally, it hinted that the number of rate cuts over the next 25 years may be lower than expected. As a result, both the U.S. stock market and cryptocurrencies plummeted. $BTC fell below $100,000, with Meme coins plummeting by 20% in numerous cases, and the Dow Jones Industrial Average dropped by 2.59%, setting a record for the longest single-day consecutive decline in 50 years.

Just from the hawkish stance exhibited by the Americans last night, it truly caused panic in the market. Hawkish signals indicate that monetary easing will be limited, which will lead to market funds flowing back from the crypto market to traditional assets, significantly impacting both trading depth and liquidity. At an extreme point, a large cash-out sell order from a major player could very likely trigger a sharp drop in coin prices.