The USDT exchange rate against the RMB broke through the 7.0 mark overnight, and the circle of friends exploded. Some people exclaimed that stablecoins were going to crash, and some people liquidated their positions overnight to avoid risks. But a strange scene appeared - the U price is falling, but mainstream coins such as Bitcoin and Ethereum are quietly climbing.

Behind this seemingly contradictory trend, there are two clear logical lines:

**The Fed's policy inflection point is approaching**
The news from Washington is becoming clearer: the Fed chairman is likely to face personnel changes, and the new incumbent has only one priority - to cut interest rates. Market traders have voted with real money, with nearly 90% believing there will be a big move next year, with some even betting on a single 50 basis point cut. Once the US dollar opens the floodgates and releases water, the RMB will naturally rise, and the pressure on the USDT exchange rate is only the first domino of the chain reaction.

**Grey money channel is being purified**
Recent regulatory actions against cross-border movements of stablecoins have been particularly intensive. A large amount of money that was originally hidden in the shadows was forced to surface, and concentrated selling caused a short-term supply surge. On the surface, the exchange rate is under pressure, but in fact the market environment is undergoing a necessary cleansing. This pain often appears on the eve of a market turn.

At this point, you may ask: since U is falling, why are cryptocurrencies rising instead?

The answer is actually not complicated. The liquidity of the US dollar is about to flood, and global funds need to find new reservoirs, and crypto assets are one of the few targets that can undertake large-scale funds. Looking back at history, you will find that the phased pressure on the USDT exchange rate often corresponds to the early stages of the bull market. Anyone who has gone through several cycles understands this truth - when there is a panic, the opportunity is already on the table.

There is now a clear cognitive split in the market:
Newcomers anxiously ask "Is something wrong with stablecoins?" while experienced traders have begun to act silently. Someone calculated that USDT was exchanged below 7.0, and then exchanged back to RMB when it rose above 7.5, with at least 10% risk-free arbitrage space in the middle. This cognitive gap itself is the most generous source of dividends.

Opportunities always come quietly when most people are confused. When most people are still asking "what happened", smart money has already completed the layout.

The choice in front of you now is very simple: take advantage of the low exchange rate to exchange for U hoarding coins, or sell and leave the market with panic? Different choices, after half a year you will see completely different results. What are you going to do?