The Federal Reserve cut interest rates by 25 basis points on December 10th, bringing the rate to 3.50%-3.75%. It was originally a positive signal, but what happened? BTC instead fell and is now fluctuating between 90k and 95k. Many people panicked when they saw this and started claiming that the bull market has peaked.

Honestly, this is a classic example of the "good news is fully priced in" phenomenon. The market is not afraid of liquidity shortages; the real panic stems from expectations of a hard landing in the economy by 2026. Looking at what major players are doing makes it clear—an industry leader repeatedly emphasized at an international conference that BTC should become a national-level reserve asset. This sounds like promotion, but essentially it’s saying: no matter how central banks manipulate interest rates, Bitcoin remains the last fortress against fiat currency devaluation.

There’s also an information gap here. A well-known exchange founder recently published a long article highlighting a core point: fiat liquidity is the real tide. Short-term pullbacks are not important; as long as the central banks open the money taps, liquidity will eventually flow in. His judgment is that the current decline is driven by major players creating a "recession panic" expectation, using it as a pretext to shake out weak hands and pave the way for a big surge in the first quarter of 2025.

Meanwhile, what is Ethereum busy with? The development team is researching Gas futures mechanisms and P2P network optimization. This signal is quite interesting—it seems the entire ecosystem is gradually shifting from "concept hype" back to "technological infrastructure." What does this indicate? It shows that market participants are moving from short-term emotional trading to long-term value building.