#美联储联邦公开市场委员会决议 last night, the crypto market reproduced a wave of sharp rise, and the market directly started the acceleration mode around 23 o'clock. The logic behind this increase is actually very clear.

The key trigger point is the US employment data for October. As soon as the job vacancy data was released, it gave the market a "surprise" - 7.67 million, much higher than the expected 7.15 million. What does this mean? The U.S. job market is not cooling as fast, and the economy is more resilient than the market generally expects.

Then the market began to repric: if the economy is still resilient, then the follow-up progress of the interest rate cut cycle will have to be a question mark. Many institutions have begun to bet that this round of interest rate cuts may be the last gentleness, and then the Fed's policy tone will gradually shift. $BTC $ETH These risk assets are the most sensitive to such expected changes, and funds preemptively run into the market.

But there's also a subtle psychological game here. The interest rate cut itself is right, it is a real liquidity benefit. The question is - is it a hawkish rate cut this time? The easing policy is effective now, but there is less policy space in the future, and this contradictory mentality makes the market both excited and apprehensive. As a result, funds rushed to seize the position, which led to last night's surge.

Other currencies such as $ZEC have also danced, but the subsequent direction will depend on the specificity of the market's shift towards the Fed. How the market reacts after the interest rate cut is implemented will be known in the next two days, and it is worth continuing to pay attention to.