The timing of the Federal Reserve's rate cut indeed has sparked some controversy. Based on data, the September PCE Price Index is expected to reach 2.8% year-over-year, the highest level since April 2024. While Hasset believes it is now time to cautiously cut rates, I think a careful assessment is still necessary.

The key lies in the direction of inflation data. If the September PCE data released tonight meets expectations or is slightly lower, it could provide some support for a rate cut. However, if it unexpectedly exceeds expectations, the Federal Reserve may continue to keep rates unchanged.

From on-chain data, there are currently no obvious signals of large-scale fund inflows or outflows. However, I will continue to monitor the movements of large wallet addresses, as well as the minting and redemption of stablecoins, as these may reflect market expectations of the Federal Reserve's policy.

Overall, investors are advised to remain cautious, closely watch tonight's PCE data, and pay attention to the statements from the Federal Reserve meeting next week. Until policy clarity is achieved, some market volatility may occur.