Yesterday everyone was lamenting the “1201 Massacre,” but today BTC bounced right back to $92,000, and ETH touched $3,000 again—the plot twist here is more dramatic than a movie.

There are two hidden threads behind the market’s sudden rebound.

First, the attitude shift in traditional finance. Vanguard, a famously crypto-averse conservative giant, suddenly announced that its 8 million self-directed clients can now trade BlackRock’s Bitcoin ETF. Remember, this trillion-dollar asset manager had always kept its distance from digital currencies. Right after, Bank of America released a report recommending a 1%-4% digital asset allocation in portfolios—this isn’t retail hype, it’s Wall Street institutions shifting their weather vane.

Even bigger signals are coming from the policy front. Trump publicly hinted that Hassett might take over as Fed Chair. This “dove among doves” has repeatedly criticized current Chair Powell for being too slow to cut rates, and even holds Coinbase stock himself. The market immediately picked up the scent of monetary easing—the Fed just confirmed it would stop quantitative tightening, and if a crypto-friendly leader actually takes the helm, once the liquidity floodgates open, just look at last cycle: BTC soared from a few thousand dollars to $69,000 during zero interest rates. The potential this time could be even greater.

The spillover effect is clear too: the Nasdaq rose 0.59% last night, tech stocks and crypto moved in sync, and even the panic from the Bank of Japan’s rate hike got suppressed.

The situation is clear: institutional money is pouring in, and policy expectations are turning positive. The so-called “crash” looks more like paving the way for the next rally.

But here’s the question—is this rebound just a short-term oversold bounce, or the start of a new cycle? Can BTC challenge the $100,000 mark within the year? The market may answer faster than we think.