I've been waiting for a rebound for three weeks in a row, but the market has just been dragging its feet.

However, a turning point may be just around the corner—the Fed's interest rate meeting on December 10. A rate cut is almost a sure thing now. The question is, will the market really take off after the cut? That depends on another key factor: US Treasury repo operations.

The global rates strategy team at Bank of America has already said they expect to start buying short-term Treasury bills at a pace of $45 billion per month starting in January next year. Officially, this is called "reserve management operations," but in reality, it’s just injecting liquidity into the market. $45 billion a month is no small amount—it's essentially a lifeline for the market, making the liquidity outlook for Q1 quite optimistic.

So I’m still pretty confident about a rebound. Based on this logic, BTC returning to $100,000 shouldn’t be far off, and ETH hitting $3,500 is very likely as well. The market should be ready to move.