Speaking of BTC's recent price movements, we first need to revisit some old and familiar cases from economics textbooks.

Remember the inflation wave after World War II? Central banks franticly printing money, causing prices to soar. How did they clean up the mess later? By shrinking the balance sheet. But that directly dragged the economy down. When they realized something was wrong, they could only turn around — continue to fire up the printing presses. This set of operations has long been a classic textbook example, though each generation believes they can avoid the trap.

Now it's 2024, and the script is almost identical. Fiscal tightening, market liquidity already tight, some central banks still stubbornly sticking to shrinking the balance sheet policy. The result? They can't hold on anymore and suddenly announce a shift to expanding the balance sheet. Basically, they're slapped in the face by reality and have to compromise.

Even more surreal is Wall Street’s crowd. Suited up, talking about refined economic narratives as if everything is under control. But the printing presses have already been churning loudly for a while; everyone just pretends not to see it.

With liquidity being re-infused, how will crypto assets react? History won't simply repeat itself, but the patterns are always similar. Assets like ETH and BTC are inherently sensitive to liquidity cycles. When fiat currency purchasing power is diluted, funds will inevitably seek new safe havens. This is not mysticism; it’s basic economic knowledge.

Looking back ten years from now, these decisions will seem absurd. Wall Street has once again made the wrong call. The core logic of trading is actually quite simple — follow the direction of liquidity, and don't be fooled by pretty words.