Such a thing has absolutely no effects on the cryptocurrency market in the short term considering it is too local (US related and not global) and it is going to mainly affect the US markets (assuming they cut rates now or any time in the future).
In the long run as cutting rates at this point would lead to higher inflation, that can help the bitcoin price go up. And if that leads to a bull run that lasts longer than a couple of weeks then we can expect the altcoin market to see some rises as well as "newbie money" comes into it.
I agree with you here, mate. But the US main goal is to attract handsome money into their country, and they are acting like a greedy entity, as I feel. The Trump administration just wants these rate cuts to be lower so that whatever money they have invested will be converted into a handsome amount of profit. You know how much the trump administration is involved in the crypto space, that is why I feel that the trump administration just wants the rate cuts to be lower in the coming Fed announcement. This will give some relaxation to the investors, and then they will start to enter the market heavily.
And, this is also the reason why the Trump administration is giving higher rate cuts priority over inflation, just like you said. If this happens, then the chances are higher of an increase in the inflation rate. CMIIW! What do you say? Any opinion or suggestion on this? Your opinion is highly welcome on this for me.