The Fed no longer expects to cut interest rates anytime soon, and rates will stay high for a longer period! This is a major bearish signal for stocks, cryptocurrencies, and other risk assets, as borrowing costs remain elevated and the era of easy money seems out of reach in the short term. High oil prices + stubborn inflation are keeping the Fed from taking action. The market has shifted from pricing in multiple rate cuts to delaying them indefinitely. The crypto market faces short-term pressure, but amidst the macro storm, there might be a 'buy the fear' opportunity.