BTC、ETH、ZEC

Early morning Federal Reserve unexpectedly released a statement, and financial media flooded with headlines saying "QE is back." The market instantly heated up, with various funds ready to move—but don't rush to jump in just yet.

This time is completely different from the massive liquidity injection in 2020. Back then, it was truly floodgates opening; now? It’s more like the water pipe is about to burst and needs urgent repair. The Fed’s move this time targets the bank reserve pools, essentially to prevent sudden spikes in money market rates. Official documents repeatedly emphasize: this is a technical adjustment, not an easing policy.

But the market doesn’t care about all that anymore. Short-term interest rates plummeted, and risk assets shot up instantly. But seasoned players know—treating a "temporary patch" as a "big liquidity wave" for speculation will eventually backfire.

The key question now is: is this move just the appetizer of an easing cycle, or does it hint that some systemic risks are brewing? Global funds are voting with real money. The recent volatility in the crypto markets might be part of the answer.