#美联储货币政策预期 Federal Reserve officials seem to be shifting their attitude toward rate cuts. Statements from Daly and Mester indicate they are leaning toward starting rate cuts in December. From on-chain data, this shift in expectations could impact capital flows in the crypto market. I will closely monitor net capital inflows at major exchanges and the behavioral patterns of whale addresses. If rate cuts do happen in December, it could stimulate demand for risk assets and drive up cryptocurrency prices. However, it's also important to be cautious of volatility risks caused by market overreactions. Next, I will focus on tracking metrics such as stablecoin minting volume and total value locked (TVL) in DeFi protocols to assess capital inflows and changes in market sentiment.