Last night's Federal Reserve meeting concluded, highlighting two truly noteworthy points:

First, the pace of interest rate cuts—there will be one more in 2026 and 2027 each. Some might think "only two? That's too few," but consider this from another angle: at least it's confirmed that the next two years will remain in a loose monetary policy, and the liquidity expectation remains intact, which is the biggest reassurance. No rate hikes are on the horizon.

More critically, starting December 13th, the Fed will engage in operations: repurchasing 40 billion USD of short-term government bonds each month. Previously, they had been shrinking the balance sheet to tighten liquidity, but now they are directly expanding the balance sheet. This is equivalent to the central bank actively injecting money into the market. Don't just focus on the 25 basis point rate cut; the real signal of policy shift is hidden in the balance sheet.

Powell's words and actions are aligned, clearly indicating: liquidity is on its way.

For the crypto market, short-term volatility will continue, but long-term depends on new capital inflows. But trying to push a one-sided trend in December? Difficult. Two hurdles stand in the way: the Bank of Japan's rate hike expectations( have already been priced in), and the seasonal tightness of liquidity at year-end( Christmas crunch is an old tradition). Without new catalysts, only old news will be repeated.

What to do in the next two weeks? The strategy is pretty clear: look for shorting opportunities at the highs, or hold onto the long positions bought last night at low leverage and wait and see. Short-term support levels are around 3130 and 2940, but there’s a high chance of retesting the previous low near 2700. Don’t rush to bottom fish; wait until the market structure becomes clearer.