{"id":523500,"date":"2023-03-17T09:35:40","date_gmt":"2023-03-17T09:35:40","guid":{"rendered":"https:\/\/ktsl888.com\/?p=523500"},"modified":"2024-06-11T10:44:18","modified_gmt":"2024-06-11T10:44:18","slug":"the-us-fed-adds-297-billion-in-a-week-fanning-bitcoin-rally","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/the-us-fed-adds-297-billion-in-a-week-fanning-bitcoin-rally\/","title":{"rendered":"The US Fed adds $297 Billion In A Week, Fanning Bitcoin Rally"},"content":{"rendered":"

The total amount of assets held by United States Federal Reserve (Fed) banks is up 3.56% in the past week, rising to $8.639 trillion from $8.342 trillion, <\/span>trackers<\/span><\/a>\u00a0on March 17 show.<\/span><\/p>\n

Fed Injected $297 Billion Into The Market Last Week<\/span><\/h2>\n

With the Fed holding assets and injecting $297 billion in the last week alone to avert a contagion following the collapse of three banks last week, the central bank has reverted to quantitative easing.\u00a0<\/span><\/p>\n

<\/iframe><\/div>\n

The result is what observers say is a “Fed Put,” a phenomenon where the central bank intervenes and rolls out an accommodative policy whenever there are sharp price falls in the equity markets. Early this week, bank stocks crashed with widespread fears of bank runs should the Fed fail to intervene.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Restarts Rally As The Bulls Target New Monthly High<\/a><\/div>\n

Observers note<\/a> that the $297 billion increment over the last week was not due to asset purchases since last week, Treasuries and mortgage-backed securities declined. <\/span><\/p>\n

Instead, this expansion was due to the $12 billion Bank Term Funding Program and a series of loans extended to shore up major banks. For this action, the Fed unwound what they have been trying to achieve over the last year.\u00a0<\/span><\/p>\n

The “Fed Put” is back with assets on their balance sheet increasing $297 billion over the last week, the largest spike higher since March 2020. Thus nearly half of the Quantitative Tightening since last April was undone in a week.<\/span><\/p><\/blockquote>\n

Bitcoin And Crypto Prices Rally<\/span><\/h2>\n

Following the collapse of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank, all of which were considered crypto-friendly and aided blockchain projects in a way to process funds, bank stocks across the board collapsed.\u00a0<\/span><\/p>\n

Meanwhile, the USDC, a stablecoin pegged to the US dollar, briefly de-pegged following news that it had $3.3 billion locked up in SVB.\u00a0\u00a0<\/span><\/p>\n

Moreover, there was turbulence in DAI, an algorithmic stablecoin managed by MakerDAO, one of the largest DeFi protocols. MakerDAO initiated steps to ensure DAI remains at parity with the USD, boosting MKR, the platform’s governance token.<\/span><\/p>\n

\"MakerDAO<\/a>
MakerDAO Price On March 17| Source: MKRUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n

While normalcy has returned and Bitcoin is back trading above $26,000, a nine-month high, the intervention by the US government and Fed seemed to have unwound most of their tightening efforts over the last few months.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Priced In Bank Shares Is The Crypto Chart You Can\u2019t Miss<\/a><\/div>\n

As trackers show, the Fed has been gradually unloading assets from its portfolio over the past months. This was as they tightened around the economy, intervening to curb runaway inflation.\u00a0<\/span><\/p>\n

This tightening looks to have worked though, as recent economic data revealed that inflation fell in February to 6%, the lowest in over 15 months. This contraction in consumer prices was in line with market expectations.<\/span><\/p>\n

Feature Image From Andrew Harnik\/AP, Chart From TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

The total amount of assets held by United States Federal Reserve (Fed) banks is up 3.56% in the past week, rising to $8.639 trillion from $8.342 trillion, trackers\u00a0on March 17 show. Fed Injected $297 Billion Into The Market Last Week With the Fed holding assets and injecting $297 billion in the last week alone to avert a contagion following the collapse of three banks last week, the central bank has reverted to quantitative easing.\u00a0 The result is what observers say is a “Fed Put,” a phenomenon where the central bank intervenes and rolls out an accommodative policy whenever there are sharp price falls in the equity markets. Early this week, bank stocks crashed with widespread fears of bank runs should the Fed fail to intervene.\u00a0 Related Reading: Bitcoin Price Restarts Rally As The Bulls Target New Monthly High Observers note that the $297 billion increment over the last week was not due to asset purchases since last week, Treasuries and mortgage-backed securities declined. Instead, this expansion was due to the $12 billion Bank Term Funding Program and a series of loans extended to shore up major banks. For this action, the Fed unwound what they have been trying to achieve over the last year.\u00a0 The “Fed Put” is back with assets on their balance sheet increasing $297 billion over the last week, the largest spike higher since March 2020. Thus nearly half of the Quantitative Tightening since last April was undone in a week. Bitcoin And Crypto Prices Rally Following the collapse of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank, all of which were considered crypto-friendly and aided blockchain projects in a way to process funds, bank stocks across the board collapsed.\u00a0 Meanwhile, the USDC, a stablecoin pegged to the US dollar, briefly de-pegged following news that it had $3.3 billion locked up in SVB.\u00a0\u00a0 Moreover, there was turbulence in DAI, an algorithmic stablecoin managed by MakerDAO, one of the largest DeFi protocols. MakerDAO initiated steps to ensure DAI remains at parity with the USD, boosting MKR, the platform’s governance token. While normalcy has returned and Bitcoin is back trading above $26,000, a nine-month high, the intervention by the US government and Fed seemed to have unwound most of their tightening efforts over the last few months.\u00a0 Related Reading: Bitcoin Priced In Bank Shares Is The Crypto Chart You Can\u2019t Miss As trackers show, the Fed has been gradually unloading assets from its portfolio over the past months. This was as they tightened around the economy, intervening to curb runaway inflation.\u00a0 This tightening looks to have worked though, as recent economic data revealed that inflation fell in February to 6%, the lowest in over 15 months. This contraction in consumer prices was in line with market expectations. Feature Image From Andrew Harnik\/AP, Chart From TradingView<\/p>\n","protected":false},"author":384,"featured_media":523501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87982,428,2007,7918,12532,16359,16680],"class_list":["post-523500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-banking-crisis","tag-bitcoin","tag-fed","tag-federal-reserve","tag-makerdao","tag-mkr","tag-usdc"],"acf":[],"yoast_head":"\nThe US Fed adds $297 Billion In A Week, Fanning Bitcoin Rally<\/title>\n<meta name=\"description\" content=\"The US Fed added $297 billion in their balance sheet last week as they intervened, fueling a crypto and Bitcoin rally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/ktsl888.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"The US Fed adds $297 Billion In A Week, Fanning Bitcoin Rally","url":"http:\/\/ktsl888.com\/news\/the-us-fed-adds-297-billion-in-a-week-fanning-bitcoin-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/the-us-fed-adds-297-billion-in-a-week-fanning-bitcoin-rally\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Federal-Reserve-Bitcoin.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Federal-Reserve-Bitcoin.png?fit=1200%2C720"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["banking crisis","bitcoin","fed","federal reserve","makerdao","mkr","usdc"],"dateCreated":"2023-03-17T09:35:40Z","datePublished":"2023-03-17T09:35:40Z","dateModified":"2024-06-11T10:44:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"The US Fed adds $297 Billion In A Week, Fanning Bitcoin Rally\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/the-us-fed-adds-297-billion-in-a-week-fanning-bitcoin-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/the-us-fed-adds-297-billion-in-a-week-fanning-bitcoin-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Federal-Reserve-Bitcoin.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Federal-Reserve-Bitcoin.png?fit=1200%2C720\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"banking crisis\",\"bitcoin\",\"fed\",\"federal reserve\",\"makerdao\",\"mkr\",\"usdc\"],\"dateCreated\":\"2023-03-17T09:35:40Z\",\"datePublished\":\"2023-03-17T09:35:40Z\",\"dateModified\":\"2024-06-11T10:44:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Federal-Reserve-Bitcoin.png?fit=1200%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/523500"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=523500"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/523500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/523501"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=523500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=523500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=523500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}