Recently, a major move has attracted attention—the U.S. government has launched a $200 billion mortgage bond purchase program aimed directly at lowering mortgage rates. On the surface, this is just a traditional financial operation, but those in the crypto space should consider the potential chain reactions.

Why should we pay attention to this? First, market liquidity will definitely increase. When traditional finance signals "liquidity injection," funds won't stay put—they will seek higher-yielding assets, and cryptocurrencies happen to be high-risk, high-reward assets. Second, once expectations of rate cuts form, the appeal of risk assets rises. At this point, core assets like BTC are often driven by capital inflows. Third, the shift from tightening to easing policies is beneficial for the macro environment of the entire crypto market.

Think back to the past few years, when high interest rates suppressed a lot of capital inflow. Now, the trend is changing. Although policies haven't directly targeted cryptocurrencies, capital flows are never stopping—once expectations of declining traditional interest rates are established, a large number of retail and institutional investors will reassess the investment value of the crypto sector.

So, the current strategy might be: hold spot assets, closely monitor macro data, and wait for a large-scale capital rotation.