On the night of December 1, #数字资产市场观察 , something happened – the Fed threw out $13.5 billion for overnight repurchase. The number isn't earth-shattering, but a look back at history reveals that this is the largest single-day operation since the pandemic in 2020. It's even bigger than the moves made during the burst of the internet bubble.

What is an overnight repo? In simple terms, it means that financial institutions use government bonds as collateral to borrow overnight money from the central bank. The technical details are not important; what matters is the signal that this action sends: money is starting to move.

Once money starts moving, the transmission path becomes quite clear. When banks have money, they become bolder in lending; when there is more money in the market, stocks, bonds, and even cryptocurrencies can benefit; the most crucial point is that the Fed signals with actions—"the situation is under control, don't panic." At such times, panic selling might be the dumbest move.

Reviewing the past few cycles, the moments when liquidity shifts often hide opportunities. Those who can see the direction a step earlier usually benefit in the next market wave. Emotion will only lead you to chase highs and sell lows; it is your understanding that determines how much you can earn.

Mainstream cryptocurrencies like $ETH have historically performed well during periods of liquidity easing. With this wave of funds entering the market, which sectors do you think will attract investment first? $BTC or other sectors?