The “rate cuts in 2026” story is fading

A lot of the market was positioned for Fed cuts next year. Now big banks are pushing that idea back. JPMorgan says no cuts in 2026 and even sees a 25 bps hike in Q3 2027. Goldman pushed cuts to mid–late 2026, and CME FedWatch shows a 95% chance the Fed holds at the January meeting.

For BTC/ETH, this matters because tight liquidity usually kills momentum trades and favors patience.

Do you think crypto can still rally hard with rates staying high longer?