#美联储降息预期升温 Revisiting the wealth effect of the 4-year cycle in the crypto world. From the early hundredfold returns of DOGE, the extreme rise of SHIB, to the recent market attention on PEPE, each cycle is rewriting investors' perceptions. When the Federal Reserve's policy expectations shift towards easing, abundant liquidity often activates the explosive potential of low market capitalization Tokens. In 2025, under a special political and economic context, the market is re-pricing risk assets. How far can this round go? It depends on macro Liquidity, market sentiment cycles, and the amount of chips accumulated at the bottom. The stories of different cycles are repeating, but every time participants will ask: will it be different this time? 🔥