At 2 a.m., a screenshot of a Federal Reserve operation was widely circulated in a certain Wall Street circle. An veteran trader with twenty years of experience only responded with three words: "It's starting."

Turning points in history sometimes arrive unexpectedly. Last night, the Federal Reserve released a message—aiming to buy $40 billion worth of short-term government bonds over the next 30 days. The number doesn’t sound explosive, but those in the know understand that this is more direct than a rate cut: the faucet has been turned on.

"The reserve balance is too low"—the Federal Reserve’s official statement used such straightforward words. Translated, it means: the banking system doesn’t have enough funds, and the central bank needs to inject liquidity. This isn’t a routine adjustment; it’s adding to the baseline level of the entire financial system. Once reserve balances start to increase, the fuel for risk assets is on the way.

For the crypto market, liquidity is life. BTC, ETH, and a bunch of altcoins are more closely tied to dollar liquidity than anyone else. This move is very likely the market shifting from "lip service expectations" to "real cash."

**Silent Shift: What’s Hidden Behind the $40 Billion**

Everyone loves to listen to Powell’s tone change during speeches, but the truly smart money has already focused on the specific actions in the balance sheet.