Don't call it QE — the Fed's $40 billion bill buys may not shake crypto out of slump

The U.S. Federal Reserve cut interest rates by 25 basis points last week, but that may not have been the biggest news to bitcoin (BTC) bulls. The real surprise was the central bank's announcement to start buying $40 billion in short-term U.S. Treasury bills. That sparked a bullish frenzy in the crypto community, and why not? These purchases will expand the Fed's balance sheet, much as the 2020 Covid-era quantitative easing (QE) program and the post-global financial crisis maneuvers that fueled unprecedent ...