The Federal Reserve injected approximately $6.8 billion into the market yesterday, and over the past ten days, a total of about $38 billion has been injected. Where did all this liquidity go? The Bitcoin ETF spot market has seen inflows on 4 days in the past ten days, and even on days of outflows, the daily amount did not exceed $500 million. Additionally, the Ethereum and Sora ETFs are experiencing outflows. Combined, even if we assume a daily outflow of $1 billion, that totals only $10 billion outflow per day, amounting to $100 billion in liquidity. The remaining $28 billion inflow into the market surprisingly has no apparent boosting effect. Is this a trap or a game of Tai Chi? Is there really such strong selling pressure in the market? Although many are already bearish, if this much liquidity only maintains the current market without a collapse, there must be a problem. After all, Bitcoin has been in a consolidation range since dropping from 11K to 21K, and inflows of liquidity into Bitcoin are definitely the first choice. Looking at Bitcoin now, it hasn't stabilized above 90K, which suggests it's part of a bigger plan. There will be many voices during this waiting process, but this is the market! If everyone is looking in the same direction, then all are just targets for manipulation. Although the market trend is quite turbulent, waiting for a new rally is essential. Autumn's view remains unchanged!