#美联储政策对市场流动性的影响 During Thanksgiving, Bitcoin trading volume was sluggish, but volatility was relatively high. This phenomenon is not uncommon. From the data, it appears more like short-term market behavior rather than a signal of long-term trends. The current macro liquidity remains tight, and the momentum of capital inflows into the crypto market is not strong. In this environment, we should regard these short-term fluctuations as "noise" rather than meaningful market signals. Investors are advised to stay calm, focus on longer-term capital flows and on-chain data changes, and avoid being misled by short-term volatility. At the same time, this environment of low liquidity and high volatility may also provide opportunities for tactical operations, but risks need to be carefully assessed.