The rate cut has landed, but this game is just getting started.

JPMorgan’s latest report throws some cold water: after the Fed’s rate cut, US stocks may not continue to soar, and by year-end, institutional funds are likely to cash out for safety. What does this signal mean for the crypto market?

First, let’s be realistic—right now, there is indeed a linkage between US stocks and the crypto world. Mainstream assets like Bitcoin and Ethereum tend to follow US stock market sentiment in the short term. But here’s a crucial distinction: the crypto market isn’t entirely dictated by traditional finance. Look at the TVL growth of DeFi protocols or the independent momentum in the NFT market—many times, they’re moving to their own rhythm. There’s a correlation, but not an absolute causal relationship.

So what should you do now? There are two approaches:

For conservative players, consider trimming positions moderately, turning some of your floating profits into stablecoins or cashing out to give your portfolio a safety cushion. After all, liquidity tightening toward year-end is highly likely, and locking in gains early is never a bad idea.

For aggressive players, don’t rush to chase highs or go all-in. Wait for clear market signals—such as repeated successful tests of a support level, or obvious accumulation signals in on-chain data—before building positions in batches. That’s a more rational approach.

The core logic is simple: keep an eye on US stocks, but don’t let them dictate your entire strategy. Markets are always changing, and those who survive are the ones with both a plan and flexibility.

Rate cuts are a macro variable, but the crypto market has its own micro narrative. Stay clear-headed, don’t get swayed by emotion, and you’ll be able to find opportunities in the volatility.