QCP: The Federal Reserve is expected to kick off its easing cycle with a 25 basis point rate cut to 4.00-4.25%, with markets pricing in six rate cuts by 2026. The market is watching the SEP and Powell's press conference for guidance. Risk assets have rebounded, but any changes to the dot plot or firmer market signals could test sentiment. Despite some easing in liquidity, cryptocurrencies continue to underperform stocks.