Immy Dorse 
Well, that wasn’t the reaction many were expecting. The Federal Reserve went ahead and cut interest rates on Wednesday, the first time they’ve done that since last December. And crypto markets? They just sort of… shrugged.
Bitcoin, the big one, was hovering around $115,000 to $116,000 right as the Fed’s announcement hit the wires at 2 p.m. EST. The news itself was pretty straightforward: a 25 basis point cut. But over the next several hours, not a whole lot happened. The price dipped a bit, then climbed a bit, eventually settling around $117,000 by evening. It was all remarkably quiet. Ether followed a similar, if slightly more jumpy, path—dipping down before climbing back to roughly where it started.
An Anticipated Move
So why the collective shrug? It seems the decision was just too expected. Analysts I spoke with pointed out that the market had basically already made its peace with this outcome weeks ago. The probability of a cut was seen as a near-certainty.
Julio Moreno from CryptoQuant put it simply, noting there wasn’t much volatility because the move was “long anticipated.” Brian Huang from Glider echoed that, saying the markets had “widely priced-in” the cut, leaving major cryptocurrencies flat for the day.
A Generally Positive Signal
Even without a big price surge, the feeling among experts is that this is still a good thing. It’s a signal that liquidity might be coming back into the picture, which usually gives riskier assets a bit of a boost. One venture capitalist, Qin En Looi, called it a “positive signal” for short-term sentiment.
Moreno offered a similar take, suggesting this could be the start of a positive catalyst for crypto, maybe even setting the stage for a stronger finish to the year. The general idea is that cheaper money tends to find its way into markets like this.
The Fed’s Unavoidable Shadow
But this whole event really underscores a lingering tension. The crypto world was built, in part, as an alternative to central banking. And yet, it still watches the Fed’s every move with intense focus.
One analyst, Doug Colkitt, described it pretty starkly: “The sad but inescapable reality is that the market is still addicted to Fed signals, even if crypto was built to escape them.” It’s a paradox the space is still grappling with.
Looking ahead, everyone will be watching the data—employment figures, inflation reports—to see if the Fed’s planned path of gradual cuts is enough. Thomas Perfumo from Kraken emphasized that these indicators will be central to market performance. Others, like Greg Magadini, are looking even further out, wondering about the Fed’s independence going into a leadership change in 2026.
Colkitt probably summed up the balance best. He noted that if the Fed stays on this path, more capital could flow into crypto. “But let’s be clear,” he added. “Macro is the wind, and crypto innovation is the engine. Rate cuts might kick off the next leg, but real adoption is what keeps it running over time.”
For now, the markets are waiting. They got the news they expected, and they’re already looking for the next signal.