The Fed will inject $6.8 billion of short-term liquidity into the market tonight through repurchase operations. This is not an isolated event, as the scale of point shaving in the past 10 days has approached $38 billion.

On the surface, it looks good, but the problem arises—will this money really flow into the crypto market? From the current market sentiment, the answer may be negative. A large amount of funds has not poured in as expected, and the price response has been tepid.

This brings us to the question of how we should operate. It is recommended to handle it on a case-by-case basis: if the position is small, it may be wise to wait for a while and see where this round of point shaving ultimately flows. For those with a larger position who are optimistic about the long-term outlook, it may be worth considering a dollar-cost averaging approach to spread out the cost.

The most practical point: keep some cash reserves on hand. The end of the year is traditionally a period of liquidity exhaustion in the financial sector; if the market really does experience a deep correction or even a "golden pit," having cash on hand is the only way to truly buy the dip. Market opportunities are always present; the key is to maintain calm judgment and have enough bullets.