#数字货币市场洞察 An action at the beginning of December could change the market landscape going forward—the Federal Reserve has officially pressed the pause button on quantitative tightening.

More crucially, the market is now focused on the next step: will the Reserve Management Purchase Program be implemented? If it is, it would mean that about $2 billion in short-term Treasuries would be bought by the Fed every month, and that money would flow into the financial system. While this isn’t the same as the massive liquidity injections of past QE, once liquidity expectations shift, the impact could still be significant. $BTC $ETH

Speaking of the market, have you felt the recent panic? From another perspective, moments like this are often when positions quietly change hands. Retail investors panic and sell at a loss, while big funds take the opportunity to accumulate—this playbook is all too familiar. The more the market is suppressed, the more explosive any rebound could be.

Right now, we’re in a delicate time window: policy-wise, liquidity may be about to loosen, but on the sentiment side, things are ice-cold. Understanding policy signals is one thing, but it’s even more important to grasp the capital game behind the sentiment—who’s selling, who’s buying, and who’s positioning.

Figure these out, and you can find your own rhythm amid the volatility, instead of being led by market sentiment.