#美联储重启降息步伐 The spot buy-sell ratio at a major exchange has become imbalanced again.

When did this last happen? Eight months ago, around April or May, right after that big crash in the first half of the year. What does imbalance mean? It means big players are aggressively buying up.

We talked about this a few days ago—when the price dropped to 80,600, funds from whale addresses rushed in like crazy. For several days straight, they kept accumulating as the price fell, sweeping up all the bottom chips. And the result? Now all kinds of positive news are starting to break out at once.

First, this week, asset management giant Vanguard officially opened its crypto trading channel. Then over the past two days, Charles Schwab—the largest online broker in the US—hinted that it will launch BTC and ETH trading services early next year. These guys in traditional finance used to look down on crypto, but now that they see BlackRock making steady management fees every year from the BTC ETF, they’re envious. After all, that BTC product has become BlackRock’s top cash cow.

So yes, the good news is definitely helping to build momentum, but more importantly: this market cycle is more certain than ever before. The gains might not be as wild as in the early days, but mainstream financial systems are now starting to participate in a real way. BTC is gradually penetrating into real-world financial scenarios, and there’s still a lot of room for imagination in the future.