Interest rate cuts, but Bitcoin keeps declining

This time, the Federal Reserve cut interest rates by 25 basis points. The market had already anticipated this, and the positive news was "priced in." When it actually happened, there were no surprises; instead, it became a reason for many to sell. Especially for investors entering through ETFs, encountering a bear market for the first time, when prices don't rise, they choose to take profits or cut losses.

Analyst Terpin believes: "Bitcoin has largely decoupled from the stock market throughout most of its history. It has only recently, due to liquidity flooding, started to behave more like the tech sector."

Cycle differences determine the rhythm

From a more macro perspective, Bitcoin follows a relatively clear four-year cycle, while the stock market historically exhibits longer cycles of about ten years.

At the same time, the market is beginning to worry about longer-term issues, such as future economic slowdown, inflation rebound in 2026, etc., leading to a more conservative overall capital stance, unwilling to continue betting on high-volatility assets.