The Federal Reserve's recent meeting stance is very clear: inflation data is indeed improving, but not enough to support a rapid rate cut. Although the long-term direction points toward easing, the pace of rate cuts will significantly slow down, and everything ultimately depends on subsequent economic data performance. Due to data gaps caused by recent government operational disruptions, and many officials advocating to observe market reactions after consecutive rate cuts before taking further action, this meeting essentially serves to "cool down" the market—suppressing overly optimistic expectations.

From the content of this meeting, a rate cut in January is basically unlikely. The Federal Reserve did not signal any intention to cut rates this month; if there were plans to do so, the language would have already shifted to a dovish tone. Instead, this meeting is intentionally managing market expectations. The more promising time window is likely after March.

Regarding the impact on the market, this is neither a major positive nor a negative; it is more about the gradual realization of expectations. In the short term, BTC is likely to experience a rally followed by consolidation, with considerable risk in chasing the peak. Before the monthly close, the price may repeatedly test around 93,500, but the specific movement will depend on real-time performance.