The market wants interest rate cuts, and the situation is different now than when interest rate cuts were paused in early 2025. Back then, although interest rate cuts were paused, there were other positive factors, such as the US-China tariff agreement, which at least created expectations for further rate cuts. Even without those expectations, the market could see positive news for the crypto industry in other areas, which could boost sentiment. But now, there are none of those. Without them, the market can only panic and fear.

The US and China only began their competition in early 2005, and a tariff agreement was not reached until November 2005.