#美联储回购协议计划 The Federal Reserve's liquidity operations have once again become the recent focus. My current position strategy is very clear—$BTC and $ETH are both top-head short positions.

To be honest, the policy trends regarding repurchase agreements are indeed worth paying attention to. How the Fed manages liquidity directly affects the funding environment, and the crypto market has always been sensitive to this. Changes in dollar liquidity often reflect in the movements of Bitcoin and Ethereum in advance.

From a macro perspective, in the current environment, a short strategy seems more prudent. The Fed's actions, the strength of the dollar, market risk appetite—these factors combined make me cautious about recent highs. Holding a top-head short position is my judgment on the current market rhythm.