Is the Fed finally dropping the act this time?

This week, they went straight to rate cuts and restarted balance sheet expansion, instantly flooding the market with liquidity. Looking back at history, they did the same thing in October 2019—what happened then? Bitcoin and US stocks soared all the way to the end of the year, and risk assets took off.

So what signals is the market sending now?

On-chain data is already getting heated:
- Institutional wallet holdings have hit a six-month high—big money is quietly accumulating;
- Stablecoin circulation has surged, with USDT and USDC market caps up 12% month-over-month—the ammo is loaded;
- Exchange reserves have plunged, retail investors are still on the sidelines, and smart money has already locked up their coins waiting for a rally.

Put these indicators together, and I can hardly believe this isn’t the prelude to a bull market.

Looking ahead, things could get even more exciting.

If Trump really takes over the Fed in May next year, just look back at the operations in March 2020—the money printer went full throttle. Policy expectations plus historical patterns—that would be the real starting point of the main bull run. How high could Bitcoin go? Use your imagination.

Of course, a reality check is in order:
- This week might be a broad rally—stocks, crypto, and gold all up—but whether a unique trend forms depends on future capital flows;
- Trump’s policy expectations are still just expectations—uncertainty always remains;
- On-chain data only reflects short-term sentiment, not a guaranteed rise.

Liquidity truly is the lifeblood of the crypto market, and the tap has been turned on. But remember: the market is always crazier—and more ruthless—than you think.

If you understand, get on board; if not, watch from the sidelines. Don’t chase the top, don’t go all in—wouldn’t it be nice to keep some cash for the New Year?