#以太坊行情解读 $BTC $ETH $ZEC

The Federal Reserve's "blood transfusion" has arrived by the end of the year—$6.8 billion has already been injected, and nearly $38 billion has been released in the past 10 days! Is this a routine operation, or is it paving the way for a bull market?

Let's start with the latest developments. Tonight, the Federal Reserve injected another $6.8 billion into the market through a repurchase agreement, marking a continuous operation. Looking at the entire month of December, the total liquidity injected is close to $38 billion. Why is this happening so frequently? The reason is quite painful—at the end of the year, banking institutions face a cash crunch. Interest rates soar, and financing costs reach sky-high levels. The Federal Reserve acts as a temporary "money master," lending money to banks with U.S. Treasuries as collateral, which is then paid back a few days later. It sounds like "routine liquidity management," but upon closer inspection, there are many intricacies involved.

The crypto community is buzzing. Some veterans have caught onto key information: will this wave splash over to us? The logic chain is clear. Although the Federal Reserve's money went directly into the banking system, the loose liquidity environment will change market sentiment. Hot money needs an outlet; in the past, it might have surged into the stock market, but now there are more options. Don't forget, the $BTC spot ETF has been approved, and institutions are getting ready. This "year-end liquidity replenishment" just gives traditional funds a psychological step to enter the market — to buy what seems like a more promising asset class.

But one must also be a bit rational. $38 billion on the Federal Reserve's balance sheet is just a drop in the bucket. Compared to its massive trillion-dollar scale, this amount hardly qualifies as "flooding the market." In the short term, sentiment may have a boosting effect, but to say this is the trigger point for a crypto bull market? It's still too early to say.

How should we view this? The Federal Reserve's "steady supply" this time, is it maintaining the operation of the traditional financial system, or is it inadvertently handing a bullet to the crypto market? This question is worth pondering. Paying attention to ETH trends, market sentiment indicators, and the next policy signals may help find the answer.