The final shoe has dropped at the end of the year — the Federal Reserve has just announced the completion of its last rate cut for 2025, while officially launching a monthly $40 billion Treasury bond purchase plan. Market sentiment was instantly ignited, and many are already shouting that the "Christmas rally" is coming.

To be honest, the stimulative effect of liquidity easing on risk assets has been proven repeatedly throughout history. This large-scale bond purchase plan is equivalent to injecting real money directly into the market, which theoretically is a genuine positive for the crypto market. After all, with more funds, there must be a place to go.

But looking at it calmly, things are not that simple.

First, this rate cut was accompanied by delays in some economic data releases, and the market still has blind spots in judging the actual economic situation. Second, excessively loose monetary policy itself is a double-edged sword — it can temporarily push up asset prices, but in the medium term, it may exacerbate inflation expectations and trigger policy reversals. History has shown us that bull markets are never a straight line up; corrections often hide behind the celebrations.

Right now, the macro cards have been played, and the key is whether funds will truly continue to flow into the crypto market. Friends holding spot assets, don’t panic, but also don’t be blindly optimistic — manage your positions well, set stop gains and stops losses, and only those who stay sober can laugh last. The market always rewards those who dare to charge forward and know when to brake.

(This article does not constitute investment advice; please conduct independent research and judgment.)