While paying attention to market trends, don't forget to keep an eye on the macro environment. 👀Key Points to Note: "Trumponomics" Series #4 — A New Round of Liquidity Injection in the #Crypto Market？ 1⃣ TGA liquidity injection into the market begins this week in 2025. Although the CPI/PPI data on Feb 12-13 didn't cause much market movement, the real catalyst came in early February when the U.S. Treasury released liquidity, boosting risk assets. The liquidity scale of TGA in 2025 is expected to be between 150B and 250B (@GoldmanSachs), with some institutions predicting up to 600B. Note: TGA doesn't have a fixed start date, but liquidity release seems to have started around Feb 12. 2⃣ Cash holdings of global fund managers dropped to a low of 3.5% in February 2025 (@BankofAmerica), reflecting an increased risk appetite. Investors are shifting towards stocks rather than cash or bonds. This aligns with the timing of TGA liquidity release. The majority of this liquidity will likely flow into risk assets, including crypto. 3⃣ Unlike the Fed's QE, TGA liquidity release is a one-time, short-term operation. By reducing Treasury bond supply and using TGA funds, the government quickly injects liquidity into the market. While this can boost risk assets in the short term, once the liquidity is pulled back, it may lead to tightening effects in the market. 🔗 Read more： https://medium.com/@OKGResearch/trumponomics-4-a-new-round-of-liquidity-approaches-can-the-crypto-market-leverage-it-to-break-39137adf4d0b