The December FOMC meeting is approaching, and this time a rate cut might really be coming.

Looking at CME data, the market is already pricing in an 87% probability of a 25 basis point cut. Major banks like Morgan Stanley and Bank of America have recently changed their tune, all predicting action this month. Why? Fed officials have recently made noticeably dovish remarks, and with weak employment data and declining consumer spending, the logic for a rate cut is basically established.

The market response has been very direct. The three major US stock indexes have steadily closed higher, and risk asset sentiment has clearly warmed up. It's even more obvious in crypto: Bitcoin has reclaimed $92,000, and Ethereum has jumped over 5% in tandem. Once liquidity loosens, everyone knows where the money will flow.

But that said, even if this rate cut happens, can the crypto market use it to kick off a new round of bullish action? Or will it just be a short-term rebound? After all, the macro environment is only one factor—market structure, sentiment, and capital flows will also influence the trend.

What do you think about the impact of this rate cut expectation on the crypto market?