#数字资产生态回暖 The Fed's bond purchase plan doubles, Wall Street rewrites the 2026 forecast

Breaking news: The Federal Reserve's bond buying scale far exceeds market expectations, directly triggering a major revision of predictions across Wall Street.

The figures are solid: The Fed's short-term U.S. Treasury purchases next year could soar to around $525 billion, compared to the previous estimate of $345 billion—a full 50% higher. This is no small amount.

What does this mean? It indicates that the Fed will need to buy bonds at a faster pace, and the cycle will be longer. Analysts believe this approach can help alleviate the market pressures accumulated over the past few months due to the Fed's tapering—after all, liquidity is tight, and everyone can feel it.

But here is the reality: Although these measures can help, they may not fully eliminate market volatility. The reason hits close to home—Fed purchases in December typically can't keep up with the surge in overnight funding demand at year-end, when banks tighten repo markets and optimize their balance sheets. At that time, markets will still experience a wave of turbulence.

For traders, this is critical macroeconomic background information. Changes in short-term Treasuries and liquidity will ultimately influence the broader financial markets, including the pricing logic of cryptocurrencies.