According to CoinMeta, the Gate Research Institute recently released a report stating that in September 2026, the Federal Reserve raised interest rates by 25 basis points for the first time in over three years. However, there was no significant selling pressure in the crypto market. In the following seven days, the market saw cumulative gains of 11.58% and 11.94%, with SOL experiencing even greater gains of 18.70%. The report analyzes that interest rate hikes do not necessarily mean a decline in crypto assets; what the market is actually trading is the difference between policy and expectations. During the four interest rate hikes in 2023, market trends diverged, while the deep correction in 2022 was caused by rapid interest rate increases combined with an industry credit crisis. Higher interest rates increase the yield on US dollar assets and the opportunity cost of holding crypto assets. BTC tends to be more defensive due to its higher liquidity and institutional participation, whereas high-beta assets like SOL have greater resilience during market recoveries but also face higher risks of pullbacks when liquidity tightens. Looking ahead, if inflation and employment rates gradually cool down and interest rate hike expectations peak, the market may start to anticipate improved liquidity, with this trend potentially spreading from BTC to ETH and altcoins.