Recent actions by the Federal Reserve have indeed attracted attention. Between the end of 2025 and early this year, they injected a total of $74.6 billion through the standing repo facility — the largest single injection since the pandemic. Seeing this number, many people's minds immediately recall the period from 2019 to 2020.

At that time, officials kept saying "the market is stable, everything is normal," but the reality was far from that simple. It seems the current situation is replaying the same script. There are rumors that large banks like JPMorgan Chase are shorting silver futures, but the official explanation remains the same — this is just routine market support.

What are the typical consequences of such large-scale liquidity injections? The US dollar tends to come under pressure, while risk assets like Bitcoin and stocks are more likely to be pushed higher. Currently, Bitcoin's price is fluctuating between $89,000 and $90,000, with some signs of a slight upward trend. From this perspective, the market seems to be digesting this additional liquidity. Many traders are pondering whether this round will develop into a bigger rally like the last one.