#美联储货币政策 The recent net inflow of digital asset investment products reminds me of the scene during the Federal Reserve's large-scale quantitative easing in 2020. At that time, the market was also jubilant, with funds pouring into the cryptocurrency space like a tide. However, the current situation is somewhat different. Although Williams' remarks have sparked expectations of rate cuts, we must not forget that inflation remains a thorny issue.

Looking back at history, the Fed's policy shifts often trigger intense market volatility. The late 1970s Volcker era is a classic example, when interest rates were pushed to unprecedented levels to curb inflation. Now, we seem to be at a similar crossroads.

The inflow of funds into Bitcoin, Ethereum, and XRP is indeed encouraging, especially with XRP hitting record highs. But we should be cautious; such significant short-term inflows could lead to excessive optimism. Remember the frenzy at the end of 2017? The subsequent bear market taught us many lessons.

Currently, we need to observe the Fed's subsequent actions calmly. If rate cuts truly begin, it could drive more funds into risk assets. At the same time, we should pay attention to inflation data and changes in the employment market. After all, the Fed's decisions are based on a careful weighing of multiple factors.

For investors, diversification and risk control remain the golden rules. Although the current outlook is positive, we must not forget the market's cyclical nature. Maintaining cautious optimism and preparing for long-term strategies is the wise approach.