#美联储重启降息步伐 Fed Eases Signals Sound the Alarm: Liquidity Turning Point Arrives for Crypto Markets

This week’s news is no joke—rate cuts combined with a restart of balance sheet expansion, and the market finally got some relief from its tightest worries. Looking back at history, this is exactly what happened in October 2019, followed by a major bull run in US stocks and Bitcoin into the new year. Risk assets collectively went wild back then.

There’s even more uncertainty coming in May next year. After the new administration takes office, the “big liquidity injection” playbook from March 2020 is very likely to be repeated—history supports it and the policy logic makes sense. That’s when the real “nuclear-level” market action will kick in.

But don’t just listen to what’s being said—on-chain data is already telling the story:

Institutional wallets have been piling in crazily, with the number of holding addresses hitting a six-month high; stablecoin circulation is surging, with USDT/USDC market cap up 12% month-over-month; exchange reserves are plunging, as smart money has already locked up their coins. What do these signals point to? The smell of a bull market is unmistakable.

In the short term, this week should see broad gains for US stocks, crypto, and gold (it’s already happening). The focus this month is to break into an “uptrend channel”—if you’re on the sidelines, you’ll just be left anxious. Looking ahead, the one-two punch next year—a new administration plus loose liquidity—makes it hard to imagine the crypto market performing poorly. The probability of Bitcoin hitting new all-time highs is not low.

Simply put, liquidity is the lifeblood of the crypto market. Right now, the Fed’s money tap is wide open. Still waiting on the sidelines? When the rally forces you to chase, no one’s going to save you.