The sharp decline in market expectations for a December Fed rate cut, now sitting near 33 to 50 percent as the government shutdown delays critical labor-market data like the October jobs report, highlights an elevated sense of macro uncertainty.

At the same time, it reflects how deeply crypto has become integrated into traditional finance, with digital assets now responding to the same data gaps and policy delays that move equities and bonds.

From a long-term perspective, that convergence is a positive sign of crypto’s mainstream maturation.

In the near term, reduced liquidity expectations could place modest downside pressure on BTC and ETH, as risk-off sentiment triggers temporary outflows from spot ETFs.

This environment typically challenges passive holders but creates opportunity for traders who thrive in volatility, particularly across futures and options markets on platforms like Bitget.

Over the next few months, we view this as a healthy recalibration, not the beginning of a sustained downturn.

Macro repricing tends to flush out speculative excess, strengthen market structure, and create more durable support levels.

The industry’s resilience will depend on how participants respond to evolving conditions, and the signs so far are constructive.

To anticipate rebounds, traders should keep a close eye on upcoming Fed minutes, revised payroll and inflation updates, real-time ETF flow data, stablecoin reserves, and broader global liquidity indicators.

As regulatory clarity improves and institutional participation deepens, these macro shifts are likely to accelerate crypto’s role in diversified portfolios and support the next phase of industry growth.

Gracy Chen, CEO at Bitget

Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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