Did you keep an eye on the market late last night? At 23 o'clock, it was like stepping on the starting gun, Bitcoin and Ethereum rose in a straight line, and the K-line was long and green, as if announcing that something big was going to happen.

In fact, this wave of pulling is not groundless. The U.S. Department of Labor's just-released October job vacancy data gave the market a heavy blow - 7.67 million jobs, far exceeding market expectations of 7.15 million. What does this mean? The U.S. job market is not as cool as imagined, and economic resilience is still online.

So traders began to make small calculations: since the economic data has not collapsed, will the Fed continue to release water next year after cutting interest rates at 3 a.m. tonight? I'm afraid it won't be so refreshing. Some even bet that this could be the last cut of this easing cycle. What are Wall Street veterans best at? First pull a wave of false prosperity, and when the policy is implemented, smash the market with the backhand, so that retail investors who are chasing the rise stand on the top of the mountain and blow the wind.

But then again, interest rate cuts themselves are indeed a real money-for-money benefit, and loose liquidity has always been a sweet spot for risk assets. The problem is that the market is afraid of "hawkish interest rate cuts" - ostensibly lowered, but the follow-up attitude is tough, implying that there will be no more moves. This kind of contradiction of expectation and fear directly gave birth to last night's rush market: funds would rather get on the car first to occupy a place than miss this wave of certainty.

What will happen to the market after the Fed's interest rate meeting lands tonight? Is it to continue the rally or die in the light? Can BTC hold its key position? How will mainstream coins such as ETH and ZEC follow? The moment the interest rate cut boots land is the moment when judgment is truly tested. Don't rush to chase high, don't blindly look bearish, see the card clearly before betting.