#美联储利率政策 Seeing the net inflow of digital assets this week at $864 million, I am reminded of a common phenomenon in investing: policy shifts tend to be more moderate than we imagine.

The Federal Reserve's current "hidden QE" is quite interesting—shifting from balance sheet reduction to net injection, with an initial scale of $40 billion. What does this signal actually tell us? That the liquidity environment is quietly improving. But I want to remind everyone, this is not a reason to impulsively leverage.

Three consecutive weeks of moderate inflows, $800 million in funds pouring into the US market, Bitcoin absorbing $522 million in a single week... These numbers look impressive, but they reflect a process where investors shift from caution to optimism. We need to stay alert during this process.

My view is: policy environment improvement is a fact, but improvement does not equal a get-rich-quick opportunity. Under a better liquidity environment, what should we do? Reassess our asset allocation, check if our positions match our risk tolerance, and ensure that our long-term mindset remains unaffected by short-term emotions.

Truly prudent investors are often not chasing highs when good news arrives, but adjusting their defenses during favorable policy windows. When liquidity is abundant, it’s actually a good time to tidy up positions and strengthen financial education.

At this moment, more than pursuing returns, it’s about preserving what we already have.