This morning, a news story circulated in the market: the Federal Reserve injected 1.6 billion USD of liquidity into the financial system. Many people in the crypto circle reposted it excitedly, with various interpretations flooding in. But first, we need to think calmly—are these 1.6 billion USD really our "big gift package"?

Honestly, no, they are not. More precisely, this is a routine operation by the Federal Reserve before the year-end settlement to prevent short-term funding markets from tightening. For the crypto world, the key is not the amount itself, but the signal behind it.

**The "high-pressure water gun" of tightening is beginning to loosen**

These 1.6 billion USD are insignificant, but what they represent is worth paying attention to. The Federal Reserve has officially stopped quantitative tightening (QT)—in other words, the continuous "high-pressure water gun" that drains liquidity from the market has been turned off. Moving from "constant water extraction" to "occasional replenishment," this shift itself is the strongest signal.

The phase of the tightest global liquidity is easing. For highly sensitive assets like Bitcoin, the environment is quietly shifting from "headwinds" to "potential tailwinds." This is not an overnight reversal but a gradual reset of the long-term background.

**Capital flow is not so straightforward**

Don’t expect funds to directly rush into exchanges to buy coins. Institutional deployment strategies are much more complex. After the macro level rises, funds will "permeate" through multiple channels—from commodities, to stocks, to risk assets—each layer being re-priced. As the ultimate risk asset, Bitcoin’s attractiveness will gradually become apparent in this process.