$BTC $ETH $BNB

Recently, there have been new developments in the market. The Federal Reserve injected about $6.8 billion in liquidity into the system at 10 PM Beijing time tonight. This operation itself is not surprising, but the signals behind it are worth pondering.

Interestingly, this is already the third time in the past 10 days that liquidity has been injected. Roughly calculated, nearly 38 billion dollars have been put in altogether. This frequency has indeed been relatively rare since 2020.

At the end of each year, the financial system often faces a situation of tight funds. The Federal Reserve's current operations are, to some extent, alleviating this pressure. On the surface, it looks like a routine action, but for the敏感的 crypto market, the extra liquidity in the system is often interpreted as a positive signal.

Historical experience tells us that when liquidity is sufficient, the market tends to be more active. This moment is somewhat special: on one hand, inflation data continues to affect market expectations, and the possibility of interest rate cuts is constantly changing; on the other hand, it coincides with the traditional season of tight funding at the end of the year.

From this perspective, although the amount of the Federal Reserve's operation this time is not particularly large, the attitude is very clear - we will take good care of market liquidity by the end of the year. The specific impact on assets like BTC and ETH will depend on subsequent market reactions.

An interesting phenomenon is that market reversals often quietly begin when no one is paying particular attention. At this juncture, maintaining a focus on macro liquidity while having a clear judgment of market rhythm may be the most important thing.