The Fed's attitude has shown signs of easing.

Latest news reports that council member Milan has stated that Powell has secured the possibility of three interest rate cuts this year. Sounds good, but this official also pointed out that although there is upward pressure on the CPI for the whole year, if policies are not adjusted, the risk of recession will actually rise. The implication is clear—cutting interest rates is a forced choice.

After this signal was sent out, Trump immediately stated that he would soon make a decision on the Fed chairman candidate. The outside world generally believes that he is not satisfied with the current rate cut intensity and hopes to exert pressure to release more liquidity. The logic of the macro policy game is gradually emerging.

From the market reaction, it appears that large institutions are already on the move. It is reported that a leading institution purchased nearly 100,000 ETH last week, bringing its total holdings to over 4.06 million coins, which translates to a total cash value of 13.2 billion USD. Such a scale of accumulation often signifies something—institutions have long been eyeing this opportunity, while retail investors are still watching from the sidelines.

Expectations for interest rate cuts are rising, liquidity is improving, and institutions are bottom-fishing... These factors colliding together make the 2025 market indeed worth anticipating. The key is, will you choose to continue waiting or to lay out your plans in advance?