#加密市场回调 saw an unexpected late-night surge in the market.

The Fed’s internal stance shifted dramatically—Waller, previously a hawkish governor and a top candidate for the next chair, publicly voiced support for a rate cut in December. As soon as this statement was made, the market reacted immediately: the probability of a December rate cut jumped to 76.7%, the Nasdaq rose over 2% that night, and the crypto market followed suit.

It was a lively day for tech stocks. Google hit an all-time high driven by its AI product Gemini, while Tesla and Broadcom both surged over 5% in a single day. China concepts weren’t idle either—Bilibili skyrocketed 7%, and Baidu, Alibaba, and others all moved higher across the board.

Wall Street has already started calling out numbers. Morgan Stanley’s chief strategist set the S&P 500 price target at 7,800 points—an 18% upside from current levels. Their reasoning is straightforward: first, the liquidity released by rate cut expectations; second, continued corporate earnings growth amid the AI boom.

In crypto, $BTC is riding the dovish wave from the Fed. Once global liquidity expectations pivot, capital flows will change accordingly. Of course, the rate cut hasn’t actually happened yet; what’s driving the rally now is expectations.

Still, keep in mind that the market is treating the rate cut as the only main storyline right now. The rally may continue until the expectations are fulfilled, but what happens after that will depend on actual economic data and policy implementation strength. $ETH