Recently, I came across an interesting piece of data: a Federal Reserve survey shows that they plan to spend around $220 billion over the next year to purchase short-term government bonds. This decision officially started at the December meeting, mainly because the reserves in the financial system have dropped to a "moderately ample" level.

So how exactly will they operate? The Fed's plan is to buy approximately $40 billion worth of short-term government bonds each month, with two such purchases scheduled for January alone. What does this reflect? It simply indicates that the Fed is adjusting the liquidity in the financial system—although not through large-scale operations like QE, it is definitely sending signals.

For the digital asset market, such macro policy changes often create ripple effects. Changes in liquidity, slight adjustments to the dollar policy, all of these can influence the flow of funds across different assets. Especially in the current market environment, it’s still necessary to pay attention to these central bank actions.