#数字货币市场回调 Recently, there have been some rumors in the market about the "Fed approving banks to engage in Ethereum business," but I have searched through various channels and found no official confirmation. What is the real situation?

In fact, on December 1st, the Fed announced the end of the quantitative tightening (QT) policy—this is a major move at the monetary policy level and is completely different from the so-called "Ethereum special approval." That being said, the end of QT is indeed a good piece of news for the entire crypto market, as it means that there will be more money in the market.

💰 Several signals worth paying attention to

First, let's talk about the changes from the Fed. On December 1, not only was QT officially stopped, but they also injected $13.5 billion of liquidity into the banking system through overnight repos. What does this operation mean? Simply put, it means they are easing. Looking back at the similar situation in 2019, after the end of QT, the cryptocurrency market indeed welcomed a nice wave of market conditions. Many analysts are now betting that the new liquidity will eventually flow into risk assets like Bitcoin.

Looking at Ethereum, the situation is a bit delicate. In terms of price, on December 2nd, ETH broke through the 2900 USD mark, with a significant intraday increase. However, the capital flow tells another story—on December 1st, Ethereum spot ETFs experienced a net outflow of 79.05 million USD, and on-chain data is even more exaggerated, with a net outflow of 126 million USD in Ethereum spot funds over the past 24 hours.

This is quite interesting: prices are rising, but money is flowing out. How should we interpret this? In my opinion, this wave of increase is more due to the market's expectations of improved macro liquidity rather than an influx of real money driving it. In other words, sentiment is leading, while funds are waiting to see. In the short term, the divergence between bulls and bears in the market is still quite evident.

By the way, the ASTER token has recently shown some technical bullish signals near $0.98, and the project team has also initiated the fourth phase of the token buyback plan in advance to stabilize the price.

Overall, the Fed's policy shift has indeed created a relatively friendly macro environment for the crypto market, but when it comes to specific coins, it still depends on the actual attitude of the funds. The game between liquidity expectations and real buying power may continue for some time.