Eurozone Bond Yields Fall as Oil Slump Eases Inflation Fears Ahead of Central Bank Meetings 
Japan Services Producer Prices Rise 3.2% in June, Supporting BOJ Rate Hike Expectations 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
China Holds Loan Prime Rates Steady for 14th Month as Economic Recovery Remains Uneven 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
Formally canceling its quantitative tightening policy on December 1, 2025, the Federal Reserve stopped the balance-sheet runoff that has drained around $2.2–2.4 trillion in liquidity since mid-2022. Instead of letting bonds mature without reinvestment, the Fed would now roll over maturing Treasuries and MBS, hence stabilizing bank reserves and stopping the never-ending squeeze on money markets that has pressured risk assets for more than three years.
For Bitcoin, Ethereum, and the bigger crypto sector, this marks the elimination of one of the major macro headwinds in recent years. QT has functioned as a constant liquidity vacuum; its absence reverses the script from contraction to neutral-to-accommodative conditions—especially when combined with projected rate cuts in 2026. Historical precedent from the 2019 QT pause saw crypto and risk assets soar 20–30% + in the following quarters as financing eased and capital moved out of yields.
Although the change isn't full-blown QE and won't flood the system overnight, it removes a significant drag right as reserves hit multi-year lows. Analysts are already describing it as softly positive for non-yielding assets: lower opportunity costs, cheaper dollar funding, and new fuel for institutional flows into spot ETFs and DeFi. While markets reorient, short-term chop is conceivable; nevertheless, the macro tailwind for BTC and ETH just swung definitively positive into 2026.
