#美联储利率政策 The Fed's recent "hidden QE" is very clear to me — the $40 billion Treasury purchase plan has been accelerated, and reserve management will continue until April 2026. This is not a mild signal; it’s a clear sign of policy shift.

The problem is, many people see rate cuts and liquidity improvements and start FOMO, often ending up in traps. Over the years, I’ve seen too many such routines: policy favorable signals appear → retail investors rush in → project teams and whales harvest → chaos ensues. The data looks impressive on the surface; last week, there was indeed an inflow of $864 million for three consecutive weeks, and the US market even recorded an inflow of $796 million. But you need to see what’s behind these numbers.

Bitcoin attracted $522 million, with continuous outflows from short products. This looks like a sentiment recovery, but compared to $41 billion in the same period in 2024, this year’s $27.7 billion is a shrinkage. What does this imply? It means that although there are inflows, overall participation remains weak. Ethereum performed better, with $13.3 billion this year—doubling last year’s figures. But new projects like Solana and Hyperliquid show different trends: one is accumulating at low levels, while the other has a direct outflow of $14.1 million.

This is the core issue — while the policy environment has indeed become more moderate, capital is still choosing where to go. Don’t blindly chase hot projects; the biggest beneficiaries of liquidity improvements are always the top players. The risks of small coins are far greater than you imagine. My only advice is: confirm the trend but don’t chase highs. Wait for a pullback to re-enter. Living longer is more valuable than making quick money.