The market has gone crazy these past two days! Before Powell has officially stepped down, traders have already started celebrating. Trump has stated that he wants to change the head of the Fed in 2026, and as soon as the name Hassett came up, the expectation for interest rate cuts was pumped to the extreme. Who is still honestly guessing a 25 basis point cut in December? Everyone is betting whether next year's interest rates can drop below 3%, or even lower.

The most interesting thing is the shift in attitude of the traditional financial sector. The Vanguard Group, which has always mocked Bitcoin, surprisingly announced its embrace of Bitcoin ETFs. The significance of this indicator is clear - institutional funds are rapidly flowing into the crypto space, particularly those large and originally conservative funds.

More importantly, the Fed has just officially announced the halt of balance sheet reduction. Although it didn't directly say it would inject liquidity, the gate has already started to turn in another direction. The turning point for liquidity may really have arrived.

The market reaction was quite direct: U.S. stocks were ecstatic, Bitcoin surged nearly 30% in a single day, the dollar weakened, and gold strengthened. The hottest topic in the trading hall now is: Has the bear market really ended?

To be honest, what is needed now is not to blindly rush in and chase the highs, but to maintain sufficient market sensitivity. Keep a close eye on every change in macro policy. Core assets should be held securely, but it's also necessary to leave some positions just in case. If liquidity really starts to reverse, this round of the market may have just begun to warm up.

What do you think about the upcoming trend?