This round of correction has washed out quite a few people.

What’s interesting is—they endured three years of crypto winter, only to give up right before the turnaround. Why? Maybe they never realized the rules had already changed.

December 1 was a key date that many missed: the Federal Reserve stopped its three-year-long quantitative tightening.

What is QT? Simply put, it’s when the central bank takes back the dollars it previously printed and destroys them—reducing the amount of money in circulation and making it more expensive. From 2021 to now, the balance sheet has shrunk from about $9 trillion to $7 trillion, evaporating $2 trillion in liquidity out of thin air.

What does this mean? With less money in the market, economic activity is suppressed, and asset prices naturally can’t rise. Unemployment goes up, consumption can’t recover, and investments are on hold. The crypto market has it even worse—how can it rally with no liquidity?

But now? The narrative is starting to reverse.

The end of QT means the tightening cycle is basically over. The US economy faces recession risks, unemployment data is right there, and if recovery is to be stimulated, there’s only one choice—turn the liquidity taps back on.

From government policy adjustments to the appointment of the next Fed chair, all indicators point in one direction: liquidity is coming back.

Looking at it another way, this might be the toughest stretch before dawn. If things move quickly, it could be this month; if slower, maybe Q1 next year. The market’s direction will become increasingly clear. The cost? The dollar may depreciate, but with the industrial revolution driven by AI technology, there’s still room for economic growth.

Back to the market. Those who hesitated at $50,000–$60,000, and are now panic-selling because of volatility, may need to rethink their decision-making logic.

Trends wait for no one; opportunities only favor those who can endure the cycle. The question isn’t whether prices will go up, but whether you can last until that day. $BTC