Is liquidity coming? The Federal Reserve's actions this time are significant.

Latest news, the Federal Reserve has restarted its reserve management purchase program, and this month it will inject $40 billion into the market to buy short-term government bonds. In simple terms, it's expanding its balance sheet.

Why suddenly do this? The core reason is to prevent issues in the overnight lending market — this is the blood vessel of the entire financial system, and if it gets blocked, the whole system suffers. By absorbing short-term debt, the Federal Reserve can directly inject reserves into the market and stabilize short-term interest rate fluctuations.

However, don't get too happy too early; official statements indicate that at some point next year, they will gradually step on the brakes and slow down the purchase pace. This move appears more like a technical adjustment rather than a signal of a new round of large-scale easing. For the crypto market, short-term liquidity improvement is definitely good, but how long it will last remains to be seen based on subsequent actions.