There were probably quite a few people jolted awake by their phones at 2 a.m.—the Federal Reserve suddenly held a "lightning rate meeting," and finalized its decision within an hour. Such a move has been rare in the past forty years, so naturally the markets went wild, and the crypto community pulled an all-nighter.

To be honest, this move feels a bit uncanny.

Let's start with the internal split. At the meeting, two factions were at each other's throats: one side wanted a cautious 50-basis-point cut, while the other was pushing for a straight 75-basis-point cut. Such a high level of disagreement hasn't been seen in recent years. With bulls and bears clashing this fiercely, how could volatility not spike?

What's even weirder is that some people acted early. $29.4 billion worth of "smart money" entered the market in advance—this is no small sum. Comparing this to recent liquidity data, it's hard not to wonder: is an even bigger liquidity injection already on the way? Capital always has a keen sense of smell; if they're positioning early, there must be a reason.

Look at the recent pace—back-to-back closed-door meetings. Repo market alarms are sounding, and institutions are urgently reallocating assets. Such intensive moves usually mean one thing: there's a liquidity problem somewhere. Some places may already be "short on cash," just not officially disclosed.

The most unsettling part is the decision speed. Settling everything in an hour—this kind of efficiency simply doesn't exist in regular meetings. "Lightning decisions" are typically only triggered when there's a systemic risk—meaning, the Fed might be quietly putting out a fire, though the source of that fire hasn't surfaced yet.

There are already signs in the US stock market: mining stocks and trading-related equities are collectively rising—this pattern is a bit like the start of the last bull market. Will the crypto market take off as well?