Mainstream cryptocurrencies generally fell, as the market weighs the Federal Reserve's future interest rate cuts.

Bitcoin, Ethereum, and most mainstream cryptocurrencies fell late Sunday night in US Eastern Time. The reason is that the market's enthusiasm for rate cuts is gradually fading, and traders are assessing the upcoming macroeconomic trends. Earlier, the Federal Open Market Committee announced a rate cut of 25 basis points, igniting investors' risk appetite and causing Bitcoin to rise to around $118,000 earlier this week. However, as traders begin to weigh future trends, this rate cut did not trigger a continued rise in the cryptocurrency market. BTSE Chief Operating Officer Jeff Mei said, "The market fell slightly over the weekend because traders remain cautious in an uncertain macro environment. The Federal Reserve has clearly stated that it will decide whether to cut rates through 'sequential meeting assessments' in the future, which means that a significant easing policy is unlikely to be implemented."