There has been a subtle shift in market sentiment over the past 24 hours.

The probability of a Fed rate cut in December has surged to 93%, up from last week’s uncertainty. This is not a bold prediction from some analyst, but a number backed by real money in the CME interest rate futures market. On Wall Street trading desks, instructions for position adjustments are being issued intensively.

Looking back at the data chain: CPI year-over-year growth has declined for three consecutive months, non-farm payroll additions have fallen short of expectations, and consumer credit default rates are on the rise. The Fed’s hawkish narrative is facing a reality check. When the policy toolbox shifts from tightening to easing, the global asset pricing anchor will drift accordingly—a turning point like this is often more worth watching than technical indicators.

Once liquidity flows back into the market, where will funds go first? Traditional safe-haven assets like gold may react first, equity markets may see structural divergence, and the crypto market—especially assets with strong tech narratives like ETH and ZEC—have historically shown greater resilience during rate-cut cycles.

Of course, opportunity and risk are two sides of the same coin. Regular investors should not be thinking “should I go all in,” but rather “how should I allocate my positions.” The appeal of fixed-income products will decline, but blindly chasing high-volatility assets is equally dangerous.

What’s your view on this potential liquidity release? Will you choose to hold and wait, or start positioning in certain sectors ahead of time?