Markets are indicating a shift in expectations.

Fed futures now price an 89% probability of rates at 3% or lower in 2026.

Lower interest rates generally increase liquidity in financial markets.

At the same time, policy focus is turning toward the midterm election cycle.

This phase often emphasizes short-term economic support.

Such conditions tend to add liquidity to the system.

Increased liquidity usually benefits risk assets.

Crypto has historically responded well in similar environments.