#BTC资金流动性 Recently, the Fed has taken significant action: tonight it injected $6.8 billion through a repurchase protocol. It seems like a routine operation, but a closer look at the data reveals something interesting - a total of $38 billion has been injected over the past ten days, nominally for "year-end liquidity management."

Why do we have to do this at the end of the year? The logic is actually very simple. At the end of the year, institutional demand for funds surges, and market liquidity can become tight. If a "cash crunch" really occurs, it could trigger systemic risks. The Fed's move is a precautionary measure to prevent unexpected blowups by injecting liquidity.

What does this have to do with the crypto market? On the surface, this money mainly flows into the traditional financial system, but don't forget—liquidity expectations will be transmitted. With more dollars, financing costs will decline, and some institutional funds will naturally flow into areas with higher yields. The crypto market happens to be in this position, so it can easily be interpreted as an "indirect positive."

But let me clarify one point: this is not a signal for a bull market. The Fed's actions are more like providing the market with IV drips to maintain vital signs, rather than directly feeding it. $BTC and $ETH, as leading assets, can benefit from this, but the price increase depends on market sentiment and fundamentals. Smart traders will use these expected fluctuations for swing trading, rather than blindly going all in.