QCP Capital reports that the Federal Reserve is anticipated to initiate a rate cut cycle tonight, with an initial reduction of 25 basis points, bringing rates to 4.00–4.25%. While the market has already priced in six rate cuts by 2026, investors are keenly watching the dot plot and the language used in Chair Powell's press conference. Despite improved liquidity, the cryptocurrency market has recently underperformed compared to traditional risk assets. Observers are interested to see if tonight's Federal Reserve statement will help narrow this performance gap.