At two in the morning, the Fed announced that it would no longer withdraw $95 billion in funds each month. In simple terms, the market's "loss of blood" state has ended, and it is beginning to slowly recover losses, but this is not a proactive point shaving; it is merely the cessation of bloodletting.

The last time the Fed did this was in 2019, when Bitcoin skyrocketed by 80% in three months. However, this time a bull market will not come immediately; it feels more like "defusing a risk bomb." The real market breakout point may have to wait until December.

In the short term, as long as Bitcoin can hold above 109,000 USD, this is the bottom; Ethereum has a good buying opportunity in the range of 3,850 to 3,900 USD. Institutions have already taken action, purchasing 85,000 Bitcoins at an average price of 110,200 USD within seven days, indicating that sharp funds never wait for news to take action.

The mid-term logic is that if the Fed starts to cut interest rates next year, the market will shift from "defusing" to "actively lifting," with Bitcoin and Ethereum expected to rise by 15% to 20%. Subsequently, funds will flow into high-quality niche cryptocurrencies within the top 50 by market capitalization, which have increased trading volumes and broken through the 200-day moving average.

Specific operational suggestions: Buy in batches, accumulate Bitcoin in the range of $109,000 to $110,000, and accumulate Ethereum in the range of $3,850 to $3,900; keep 30% cash to cope with unexpected risks; do not use leverage exceeding 5 times. When Personal Consumption Expenditures (PCE) data ≤ 2.8%, and Bitcoin volume breaks through $115,000, then increase the position to 70%.

The market is now shifting from "point shaving" to "accumulating water". Don't be impulsive; don't invest all your funds at once. Maintain your pace and patiently wait for profit growth.