ChainCatcher news, QCP Capital's latest analysis points out that the Federal Reserve's hawkish FOMC meeting triggered a comprehensive sell-off of risk assets, with the Nasdaq plummeting 3.56%, the S&P 500 falling 2.95%, and Bitcoin dropping by 6.13%. Although the market expects the Federal Reserve to cut interest rates by 25 basis points, the downward adjustment of the dot plot has caused panic. Due to persistent inflation, the Federal Reserve is expected to cut rates only twice by 2025, which is below the market's general expectation of three times.QCP Capital believes that while it is easy to attribute this round of sell-off to the Federal Reserve's hawkish stance, the fundamental reason for the market crash lies in the previously overly optimistic market sentiment. Since the U.S. elections, risk assets have experienced a one-sided upward trend, making the market extremely sensitive to any negative news.