Recently, the market has been closely following the Fed's movements, especially the possible interest rate cut decision in September. However, the current focus is no longer on whether there will be a rate cut, but rather on the magnitude of the cut.

Market traders' bets have driven the recent wave of gains, as they expect interest rate cuts between 100 and 150 basis points. Some analysts even directly predict a possible cut of 150 basis points. This expectation has largely been priced in by the market, so the upside potential for future price movements may be limited.

It is worth noting that the release of the Fed's July meeting minutes will also provide more clues for the market. Investors should closely follow this document for greater insights into the thinking of Fed policymakers.

In the cryptocurrency market, the futures contracts of Bitcoin ( BTC ) and Ethereum ( ETH ) are also affected by these macroeconomic factors. When making decisions, investors should consider these factors comprehensively, rather than being limited to a single expectation of interest rate cuts.

Overall, in the current market environment, investors need to analyze the specific extent of policy changes in greater detail, rather than simply focusing on whether there will be policy changes. This more in-depth analytical approach may provide more valuable guidance for investment decisions.