Recent comments from Federal Reserve Chair Jerome Powell have sparked intense debate about whether the crypto market could soon enter a new bull cycle fueled by quantitative easing (QE).
What do analysts say about this possibility? Here’s a closer look.
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Could the Fed Restart QE in the Coming Months?
During his speech at the National Association for Business Economics (NABE) conference on October 14, 2025, Powell revealed that the Fed is considering ending its quantitative tightening (QT) program.
He emphasized that bank reserves are approaching an adequate level. According to Powell, QT could end soon to avoid excessive liquidity tightening, which might hurt economic growth.
Analysts noted that halting QT could pave the way for QE, meaning the Fed could inject liquidity back into the market, similar to what it did during the COVID-19 pandemic.
If QE begins, Bitcoin could be one of the biggest beneficiaries. Historically, QE has driven risk assets higher, as seen in 2020–2021 when Bitcoin surged from below $10,000 to over $60,000.
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This shift would also affect altcoins. Arthur Hayes, co-founder of BitMEX, declared that QT has effectively ended and called it a major buying opportunity.
“There you have it, QT is over. Back up the fucking truck and buy everything,” Arthur Hayes, Co-Founder of BitMEX, said.
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Author: Nhat Hoang
