The signals at the start of the year are very clear — liquidity will loosen. The foreign exchange rate cut is underway, and domestic banks' costs are also decreasing. Under the background of exchange rate stability, this provides the decision-makers with significant operational space.

The numbers are quite straightforward: the reserve requirement ratio is only 6.3%, long-term deposits are maturing one after another, and the policy rates are still being adjusted, which compresses the banks' interest margin space. But from another perspective, this means idle funds will flow outward — seeking returns and growth.

History has played out this way: whenever liquidity is loosened, hot money shifts from low-yield assets to highly elastic assets, and the crypto market is often the first battleground to benefit. #MSCI未来或纳入数字资产财库企业 $ETH $BNB, which are highly active targets, often catch this wave of dividends.

The beginning of the cycle is just around the corner. The buildup period has already been long enough.