The bulls of Bitcoin gain more momentumBitcoin / U.S. dollarBITSTAMP:BTCUSDThorne-Fed Policy Analysis: Expected Rate Cut + Framework Reset, Bullish for Bitcoin Liquidity 1. Rate Cut Meets Expectations, Liquidity Easing Certainty Strengthened The Fed delivered a widely anticipated 25-basis-point rate cut, lowering the federal funds rate to the 3.50%-3.75% range — its third cut this year. This move perfectly aligns with market expectations (89.4% probability per CME FedWatch), avoiding the risk of an "expectation gap shock." While the statement’s mention of "a significantly higher bar for further rate cuts" may seem hawkish, Powell’s confirmation that "current rates are at the upper end of the neutral range" clarifies a "gradual easing" policy stance rather than an end to the easing cycle . More crucially, the Fed simultaneously launched a new Treasury purchase program, which will directly inject market liquidity and form positive resonance with risk assets like Bitcoin. Historical data shows that Bitcoin’s average returns during Fed quantitative easing (QE) periods are 3.2 times higher than in regular periods . This liquidity injection ends the three-year quantitative tightening (QT) cycle, removing a key resistance for Bitcoin’s price movement . 2. Policy Framework Returns to Balance, Inflation Constraints Ease Marginally The 2025 revision to the Fed’s monetary policy framework is a core highlight: it abandons the average inflation targeting system introduced in 2020, reverts to the traditional symmetric inflation target, and discards the employment shortfall rule to return to the original logic of balancing its dual mandates Federal Reserve Board of Governors . This adjustment means the Fed will no longer deliberately tolerate inflation overshoots, but it also reduces the probability of "policy pivots triggered by a single inflation data point," making policy decisions more flexible . For the crypto market, the marginal easing of inflation constraints enhances Bitcoin’s appeal as a risk asset. Especially with U.S. core PCE moderately declining, the driving effect of liquidity easing on prices will be more pronounced . The framework reset reflects the Fed’s response to post-pandemic economic changes — as global supply chain restructuring and labor market shortages end the low-inflation era, the previous framework’s limitations (which delayed inflation responses) are no longer applicable . This balanced approach provides a more stable policy environment for risk assets. Bitcoin trading strategy buy：91500-92500 tp:93500-94500-97000 sl：90500