You are totally right with this one - rate cut is not QE? 100%. Textbook says cuts = "normal tool, " QE = "nuclear option." But the market doesn’t read textbooks. When ToolatePowell whispers "cut," degens scream "LIQUIDITY PUMP = MOON!" and dump bags into BTC. Perception > policy.
Double-edged sword? Exactly. If Sept cut = "recession incoming," crypto dumps with stocks. If it = "soft landing," we get a hopium pump........ until the next CPI print.

If they cut then pause (like 2019), crypto chills. If they cut then monetize debt (stealth QE via bond reinvestment), BTC moonshots... but only if it’s framed as "dollar weakness," not "recession panic."
The narrative shifts daily. One hot take: "Cut = growth!"  next day: "Cut = we’re fucked!" Crypto’s a mirror for Wall Street’s mood swings.

My take on this - short-term: Buy the rumor (Sept cut hype), sell the news (post-FOMC dump). Long-term: If the Fed admits they’re monetizing debt ("we’ll hold bonds until 2025"), BTC becomes the only "safe" asset... if it survives the panic selloffs when the S&P cracks.
You’re right,it’s not simple. But in crypto, "calculated move to prevent downturn" = "we’re printing until it breaks."