Macro· ★★★· neutral·

Fed's $3.3B Treasury purchase is not fresh stimulus for Bitcoin, documents show

  • —The New York Fed bought about $3.3 billion of short-term Treasuries on Oct. 22
  • —The purchase replaces maturing holdings instead of adding new money supply
  • —The Fed plans to reinvest roughly $13 billion between Oct. 15 and Nov. 13
  • —No additional purchases to grow bank reserves are scheduled for this period
Why it matters: Reading routine Fed rollovers as crypto liquidity inflows can mislead traders about what is actually driving bitcoin demand.
Source: Crypto Insiders