The Federal Reserve's new move has arrived, directly rewriting the market script.

Starting December 12, the Federal Reserve will buy $40 billion worth of short-term government bonds each month. This plan was originally expected by the market to start in 2026, but it has been brought forward by two years. Simply put, this is not a minor adjustment but a clear signal: the liquidity environment is about to change.

Why is this so critical? It needs to be looked at separately.

**Cutting interest rates and buying bonds are fundamentally two different things**

Lowering interest rates sounds impressive, but in reality, it just reduces the cost of borrowing. Now, the Fed is directly spending money to buy government bonds, which is equivalent to injecting cash directly into the entire financial system. One is price adjustment, the other is an expansion of quantity — the scale is completely different.

**The timing itself is very revealing**

Everyone previously thought this kind of operation was still far off. But the Fed acted immediately, and the implied message behind it is clear: the level of liquidity needed by the U.S. financial system is more urgent than what official data shows. It’s not about preventing problems before they occur, but about addressing immediate, real needs.

**The flow of $500 billion annually**

$40 billion monthly amounts to nearly $500 billion a year. This money won't just sit on the books; it needs to find places to appreciate in value. Globally, risk assets, especially cryptocurrencies — which are most sensitive to liquidity — have already become the main destinations for this wave of funds.

#美联储降息 $ETH $BNB These mainstream currencies might deserve attention in the upcoming market movement.

Historically, every large-scale liquidity injection has been accompanied by asset price re-pricing. This time, it may not be an exception.