A closed-door meeting at 2 a.m. broke forty years of routine operations at the Federal Reserve. The decision was made within an hour, and the global capital markets instantly exploded, with the crypto community becoming collectively euphoric overnight.

The signals released by this sudden "crisis-level" meeting are far more complex than they appear on the surface. The battle over the rate cut magnitude has reached a fever pitch—will it be 50 basis points or 75 basis points? The market's bets are more divided than ever before, reflecting the imminent transformation of the liquidity landscape. Even more intriguing, $2.94 billion in "smart money" had already positioned itself in advance; it's obvious to those in the know that larger-scale liquidity support is brewing.

Two consecutive closed-door meetings in as many days, repo market alarms sounding, and frequent institutional portfolio adjustments—this cannot be explained by normal operations. Systemic risk may already be approaching a critical point, demanding swift and decisive action. Making a decision within an hour is extremely rare in my years observing the Fed, indicating the situation was so urgent that not a moment could be wasted.

The details of market linkage are even more interesting. Before the U.S. stock market opened, crypto mining-related companies and ecosystem-linked sectors all surged, their movements almost mirroring the script before the last major bull run. This classic playbook of "stock market warming up, crypto taking the baton" is something Wall Street is already very familiar with. Capital flows have already sent a clear signal—the question now isn’t if it will happen, but when the full-scale outbreak will come.

After eight years of monitoring the markets, I’ve seen that when such abnormal rhythms appear, it usually signals a turning point in the major cycle. Once the liquidity floodgates open, market sentiment will spread across all sectors at an unexpectedly rapid pace.