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Based on the Federal Reserve's dot plot, the expectation for the first rate cut in 2026 has shifted to June, and there are only two rate cuts expected in 2026. This silences those who predicted a massive Bitcoin bull market due to abundant liquidity in 2026. The next positive development in the crypto market should be in May 2026, when Powell is replaced, marking the debut of the professional liquidity pump appointed by Trump. That should be the climax of the next wave of行情. Therefore, I believe there will be a surge of altcoins in the first quarter of 2026 due to this logic.