Old Bao finally told the truth, admitting that the Federal Reserve has no real solution for supply-driven inflation. The market immediately exploded, and traders quickly started pricing in rate cuts, causing Treasury yields to surge.

This level of scapegoating deserves a perfect score. Not long ago, they were full of hawkish confidence, and now just one sentence—"can't control supply"—has set the stage for rate cuts.
With this macro shift, Treasury yields are falling, and the liquidity faucet is no longer as tight.
The opportunity for risk assets to breathe has arrived. Although Bitcoin hasn't yet started a sharp rally, such a change in expectations is most likely to trigger a wild move.
The foundation of liquidity is gradually rebuilding. What do you veteran investors think?