#美国贸易赤字状况 Federal Reserve Board member Milan recently revealed that a rate cut cycle of about 150 basis points is expected by 2026. This expectation is worth paying attention to in the digital asset market like $BTC—rate cuts often mean increased liquidity, which usually boosts the performance of risk assets. Looking back at previous rate cut cycles, the crypto market's reactions can provide some clues. Against the backdrop of the ongoing expansion of the US trade deficit, the Federal Reserve's policy stance is also quietly adjusting. If such a scale of rate cuts materializes, it could reshape the market's perception of $BTC as a store of value, especially during a time of rising inflation expectations.