2025-12-05 07:32:47

#美联储重启降息步伐 The Fed's liquidity buffer is running out.

Recent data disclosed by Delphi Digital shows that the scale of reverse repurchase agreements is shrinking rapidly. This tool, which once absorbed trillions in liquidity, now has little room left. What's next? Treasury issuance can only directly consume banks' reserves. The Fed either watches as liquidity in the financial system dries up, or—restarts balance sheet expansion.

What does balance sheet expansion mean? The money printer is about to start up again.

More importantly, quantitative tightening may be nearing its end. Since balance sheet reduction began in 2022, market liquidity has been continuously drained. Now, for the first time, there are signs of marginal liquidity turning positive—this is no small matter. History tells us that whenever the Fed shifts from tightening to easing, risk assets often experience a boom.

The crypto market is much more sensitive to liquidity than traditional assets. When there's more money, the first stop for hot capital is often here. $BTC and $ETH, as market cornerstones, usually benefit first. Can altcoins keep up? That depends on the pace of capital rotation and market sentiment.

But don’t rush in just yet.

A policy shift doesn’t equal an immediate bull market. Every move by the Fed comes with a lagging effect, and the market needs time to digest. The crypto market is highly volatile, and positive news may already be partially priced in. The real opportunities belong to those who can control their positions and enter in batches. Dollar-cost average into mainstream coins, set take-profit and stop-loss points—don’t let one impulse ruin your whole account.

Keep a close eye on the Fed’s next move. If the data confirms the start of balance sheet expansion, that’s the real signal. For now? Get your ammo ready and wait for the best entry point.

How long do you think this round of liquidity easing will last?

BTC0.85%

ETH1.21%

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GateUser-75ee51e7

· 12-05 08:00

The reverse repo has bottomed out and the money printer is about to start again. History tells us that this is often a carnival for risk assets. However, the crypto market has already rallied on this positive news before, so timing is crucial if you're entering now.

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WalletDetective

· 12-05 07:58

Has reverse repo hit bottom? Feels like this wave of hot money really needs somewhere to go, can the crypto market still dodge it? Haha --- Balance sheet expansion = money printing, that's really all there is to it, but the real question is when we'll actually see the effects. --- "Don't rush to go all in"—that's so true. Every time, there are people who can't wait, and in the end, they're the ones who get stuck. --- How long can liquidity stay loose? Honestly, no one knows. It depends on what the Fed does next. --- "Get your ammo ready"—that advice is spot on. But the key is whether you can really catch the right entry timing. --- $BTC $ETH will definitely benefit first, that's for sure. The question is when it'll be the altcoins' turn—definitely not now anyway. --- Lagging effects are like a curse; the news has been out for ages before the market reacts, and by then the opportunity's gone cold.

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SchrodingerWallet

· 12-05 07:57

Reverse repos have bottomed out and balance sheet expansion is imminent—this round of liquidity easing is really here. After waiting for so long, we’re finally seeing signs of a positive shift at the margin; those days of balance sheet contraction were truly tough. BTC and ETH will definitely be the first to benefit, but retail investors still need to keep a steady mindset and not get swayed by market news. I’ve already fallen into the trap of lagging effects before, but I’ve learned my lesson this time—going with DCA plus stop-loss.

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OnChainDetective

· 12-05 07:55

repo collapse into negative territory... suspicious timing on that delphi data drop ngl. traced the wallet flows last week and transaction patterns suggest institutions already front-running this narrative hard. historical data shows fed pivot signals get 60-70% priced in within first 48hrs, so if you're not already in, odds aren't favoring late entry here.

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DegenDreamer

· 12-05 07:53

There’s almost no room left for reverse repos; expanding the balance sheet is definitely necessary. If this round of liquidity really turns positive, BTC and ETH will definitely take off first.

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StillBuyingTheDip

· 12-05 07:52

The money printer is running, so my dollar-cost averaging plan should get started too. Mainstream coins, hold steady and don't make any rash moves.

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