The U.S. Treasury just announced plans to repurchase long-term bonds this Thursday, with a scale of $4 to $6 billion. This move helps ease selling pressure and curbs the upward impact of long-term interest rates on financing costs. It's a positive signal, but it doesn't mean the Fed is flooding the market with liquidity. Whether oil prices can continue to decline is the key variable for improving inflation. However, Brent crude oil rose about 3% again today. If energy prices remain high, it will be hard for inflation to drop, and the Fed's room for easing will be limited. In this case, the Treasury's buyback will mainly serve as a temporary relief. The buyback might buy some time for the bond market, but whether the macro pressure on U.S. stocks and Bitcoin can truly ease will depend on the future trends of oil prices and inflation. I'm still holding half my spot positions and patiently waiting for the market to show its direction.