According to @BullTheoryio, markets have priced a 99.9% chance of a 25 bps Fed rate cut at 2 pm ET, so trading focus shifts to the statement language, the QT decision, and Powell’s tone, source: @BullTheoryio. A dovish statement that highlights rising growth risks would imply additional cuts ahead and likely push 2-year Treasury yields lower while weakening the dollar, a setup that supports risk assets including BTC, source: @BullTheoryio. If the Fed labels the move a mid-cycle adjustment, upside could be limited and markets may consolidate or pull back, source: @BullTheoryio. Markets also expect the Fed to announce the end of QT, signaling a halt to balance-sheet reduction and an early liquidity inflection that has historically fueled risk-on behavior across tech, equities, and especially Bitcoin, source: @BullTheoryio. If Powell acknowledges slower growth or expresses confidence that inflation is under control, traders may see lower bond yields, a softer dollar, and a rally in equities and crypto; a cautious tone without commitment to future cuts would likely keep markets in consolidation, source: @BullTheoryio.