The Fed's recent "constipation-style liquidity injection" and "muscular pumping" operations are simply mind-boggling, a clear "liquidity scam" that reshapes the underlying logic of finance.

The government shutdown, soaring debt, and interbank liquidity turning into a "desert," while the Fed launches BTFP to "support" the financial market and uses reverse repos to "pump out" to prevent flooding, all results in funds flowing into the S&P 500 and gold, leaving the real economy parched.
Cryptocurrency also shows a "sickbed market" trend, with the panic and greed index at extreme fear, but on-chain stablecoin reserves are bursting, and Bitcoin hovers at key resistance levels. The market is waiting for the Fed to reveal its hand, with a "Schrödinger" Christmas market forecast, featuring both gentle and aggressive scenarios.
For ordinary investors, short-term light positions for the holiday, keep an eye on the 89,000 level of Bitcoin; medium-term focus on stablecoin movements and SEC new officials' measures; long-term view, QE4 will eventually be implemented, which is the ultimate positive for Bitcoin. $SOL $BNB $XRP
History repeats itself astonishingly, and now the underlying logic of finance is collapsing, deepening the gap between traditional and crypto assets. This Christmas, think clearly about asset positioning, re-divide the ocean—are you surfing or just watching the waves? Like and share, let's dig for gold together!