#数字资产市场动态 A recently declassified Federal Reserve meeting minutes from 2020 have been exposed, containing information enough to make the entire crypto market rethink future liquidity trends.

At that meeting, Powell publicly stated that interest rates would be "locked at zero," provided inflation does not break above 2%. It sounds like a firm commitment, but several officials in the committee expressed dissent at the time—they felt this policy framework was too absolute and too risky. As we all saw in hindsight: five years later, inflation soared to 7%, and the Fed was already on the back foot in handling the situation.

How much does this incident impact our crypto circle?

**First, the rate cut expectations need to be tempered**

Since this piece of history has been uncovered, the Fed will now be more cautious in its statements. The dot plot indicates that there might be only two rate cuts by 2025, with September being the earliest window. In other words, it’s quite difficult to see significantly loosened liquidity in the short term. This is a wake-up call for investors expecting rapid easing.

**Second, "look at the data" now has a new meaning**

Next time officials make statements, you need to be more alert. If inflation rebounds, dovish officials can instantly turn hawkish, and the policy shift can happen faster than expected. That’s why long-term traders understand that they shouldn’t rely on one or two meeting statements but should instead pay attention to the overall economic data response.

**So, how to navigate the current situation?**

In the short term, the pressure of liquidity tightening remains, and $BTC and altcoins will face some correction. But from a longer-term perspective, Bitcoin actually has a case in an economic stagflation scenario—it’s properties as "digital gold" can become more prominent during such times. Historically, every major liquidity turning point has presented opportunities for undervalued assets to rebound.

**A few operational suggestions:**

Avoid going all-in at once; a phased approach is more prudent. If the decline is severe, that’s the real opportunity for spot buying. Leverage should be used sparingly in such high-uncertainty phases—keep enough idle USDT and wait for genuine opportunities. Focus on top coins like $BTC and $ETH, as their resilience and liquidity are more assured in turbulent times.

In summary, whether Powell’s "history" can truly influence the subsequent pace of rate cuts depends ultimately on the economic data itself. What’s your view—continue to wait and see, or prepare for a rebound? Share your thoughts in the comments.