Last night, the Fed announced a 25 basis point cut. It seemed like a routine decision, but the market's reaction was quite interesting—the dollar actually fell, and the "smart money" on Wall Street had quietly completed their shift.

What is happening behind this? It's actually far more complicated than it appears on the surface. This moment marks the beginning of idle global capital seeking new havens, and the crypto world is becoming one of the key targets.

First, let's look at the first layer of signals: the biggest question mark hanging over the market has finally been lifted. For the past few months, the entire market has been "betting on expectations"; now that expectations have settled, traders are beginning to focus on chart trends, redirecting their attention back to the growth story of crypto assets and the state of capital. What does this mean? External macro disturbances have weakened, and the intrinsic value of crypto assets and the capital siphoning effect will truly come into play.

Let's take a look at what is happening on-chain. Lowering interest rates essentially does one thing: it reduces the attractiveness of holding cash and traditional low-risk assets. Money will inevitably flow to places that can earn higher returns. Look at the current situation: BTC is fluctuating between $114,000 and $117,000, showing considerable strength; ETH is firmly standing above $4,400. This isn't a lack of market vigor; on the contrary, this is a consolidation phase, building momentum for the next round of increases. The continuous accumulation by whales is far more convincing than the calls from retail investors.