The Federal Reserve released $105 billion in liquidity yesterday, marking the largest single market operation of the year. From a macroeconomic perspective, this injection of funds quickly alleviated liquidity tightness in the financial markets and sent some positive signals to the global economy.

What’s more noteworthy is how this large-scale liquidity injection will transmit to the cryptocurrency asset market. Historical patterns tell us that when liquidity in traditional financial markets is abundant, investors’ risk appetite tends to increase. Some funds naturally flow into risk assets like Bitcoin and Ethereum in search of higher returns.

Looking at it from another angle: Fed printing money → ample interbank liquidity → financial institutions and retail investors have more idle funds → some funds seek high-yield investments → the crypto market becomes an important option. This logical chain has been validated across multiple cycles in the past.

Of course, liquidity is only a necessary condition, not a sufficient one. Whether genuine capital inflows will occur ultimately depends on market sentiment, policy expectations, technical factors, and other combined influences. But from the current signals, at least the overall environment in the financial markets is becoming more favorable for risk assets. For investors participating in the crypto market, this could be a relatively positive background condition.