According to @BullTheoryio, the Federal Reserve cut the policy rate by 25 bps and signaled quantitative tightening will end on December 1, implying cheaper funding and an end to balance sheet runoff, which historically weighed on risk assets and crypto liquidity (source: @BullTheoryio). According to @BullTheoryio, Chair Powell framed the move as risk management and said the overall outlook has not materially changed since September, with firm employment and easing but above-target inflation (source: @BullTheoryio). According to @BullTheoryio, Powell stated no decision has been made about a December cut and noted strongly differing views within the committee, reducing odds of a near-term easing cycle acceleration (source: @BullTheoryio). According to @BullTheoryio, Powell added that higher tariffs are lifting some goods prices but likely temporarily, and policy remains modestly restrictive, indicating the Fed wants flexibility rather than a pre-committed cutting path (source: @BullTheoryio). According to @BullTheoryio, the Fed ending QT means the balance sheet will stop shrinking, bank reserves should stabilize, and credit conditions may loosen, a backdrop that typically improves liquidity for risk assets including BTC and altcoins (source: @BullTheoryio). According to @BullTheoryio, consumer spending is slowing—especially among lower-income households—and the Fed is monitoring AI-driven layoffs and data center investment, factors that can influence growth, inflation, and liquidity-sensitive assets (source: @BullTheoryio). According to @BullTheoryio, the key trading takeaway is that the tightening cycle appears over, liquidity is turning, and capital rotation could start favoring Bitcoin and altcoins as conditions stabilize, though the path may depend on December FOMC outcomes and incoming data (source: @BullTheoryio).