At the end of each year, what I care about most is never the K-line trend, but what real signals the Federal Reserve's meeting minutes might reveal.

This December's minutes were just released and directly shattered market expectations. The FOMC indeed cut interest rates by 25 basis points, bringing the rate down to 3.50%-3.75%, marking the third consecutive cut. But what truly caught the eye was the 9-to-3 voting split— the largest dissent since 2019. Two members insisted on holding rates steady, while a hawkish member even called for a 50 basis point cut.

What does this internal turmoil within the central bank indicate? Clearly, there's more beneath the surface.

Those supporting a rate cut also left subtle hints in the minutes: this decision is a "delicate balance," and logically, they could have chosen to keep rates unchanged. Some even admitted that inflation might be deeply rooted, and cutting too quickly could be perceived by the market as the Fed softening its 2% inflation target.

This internal tug-of-war, paradoxically, opens a window for Bitcoin and risk assets. Historical experience shows that during the transition from tightening to easing, risk assets often enjoy a golden period of strong performance. Smart money has already sensed this trend and is positioning accordingly.

In simple terms, the liquidity gate hasn't fully opened yet, but the water level inside is already rising.