A former New York Fed official just dropped a bombshell: In addition to the market-expected 25 basis point rate cut this week, the Fed may also take a big action—starting in January next year, it could purchase $45 billion in Treasury bonds every month.

Although the authorities won’t label this as QE, the actual effect? It’s basically another form of monetary easing. Market liquidity is coming.

What does this mean for cryptocurrencies? Simply put: more money. Rate cuts lower the cost of borrowing, and bond purchases inject cash directly into the market. Meanwhile, the supply of Bitcoin is fixed, so when supply and demand shift, you know what happens. The market has already priced in the rate cut, but the impact of this bond-buying plan may just be starting to unfold. Once liquidity is unleashed at the macro level, capital will look for a way out—major coins will be the first choice, and those narrative-driven, high-volatility emerging ecosystems will also get a share.

But let’s stay calm.

All this excitement is based on expectations, and there’s no consensus within the Fed. Haven’t we seen the old “buy the rumor, sell the news” playbook enough in crypto? The more one-sided market sentiment gets, the more cautious you should be.

Will this “rate cut + bond buying” combo be a bull market booster, or a sign that all the good news is priced in? Will you choose to increase your holdings in major coins, or try to get ahead of the curve in those hot new narratives?