#我的七夕交易分享 trillion-level liquidity is on the way, and the crypto market will see a systemic repricing

Many people only watch the Fed’s rate-cut cycle, but overlook that FIMA balance-sheet expansion is a more direct source of liquidity release.
Rate cuts change the cost of capital, while balance-sheet expansion injects incremental dollars into the market directly. For crypto assets, changes in marginal liquidity always matter more than the absolute level of interest rates.
A trillion-scale increment is enough to trigger a new round of upside
Let’s do the math: U.S. Treasuries held only by the Japanese government are $1.143 trillion, plus the $230 billion held by GPIF, for a total of $1.373 trillion. If this portion of assets can all be converted into liquidity via FIMA, it would effectively inject a trillion-level dollar increment into the market.
For comparison, during the COVID-19 pandemic, the Fed’s cumulative balance-sheet expansion was about $4 trillion, directly driving the global bull market for assets in 2020–2021. This time the liquidity increment is different in magnitude, but the direction is completely the same—when the Fed’s balance sheet expands again, dollars flood the system, and all risk assets priced in dollars will undergo valuation repricing.
The market has already sent signals in advance: gold prices have rebounded sharply from a phase low, which is exactly what smart money is pricing in—expectations of looser dollar liquidity.
And the choice of capital is clear: compared with putting money into AI infrastructure, where capital returns are becoming increasingly uncertain, the market is more willing to flow into hard assets without counterparty credit risk, such as gold and Bitcoin.
BTC and ETH benefit first, with the highest certainty for valuation repairs.
Bitcoin is the core asset for a liquidity trade: as long as the Fed expands its balance sheet, Bitcoin won’t be absent. At the current stage, both Bitcoin and Ethereum are undervalued.
Especially Ethereum, as one of the few major coins that failed to break its all-time high in the 2025 rally, while also carrying the RWA asset security-layer narrative—its catch-up upside is very clear. In cycles where macro liquidity turns, blue-chip large caps are always the first to benefit and have the highest certainty.
If FIMA rules are modified and implemented, it will become a key catalyst for the crypto market to shift from a ranging market into a trend bull market. Before that, the market may slowly lift in hesitation; but once the signal becomes clear, the price action will quickly enter the main uptrend. $BTC ‌