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Fed balance sheet adds $393B in two weeks — Will this send Bitcoin price to $40K?

Published 03/24/2023, 10:23 AM
Updated 03/25/2023, 12:00 PM
© Reuters.

As of March 22, the United States Federal Reserve’s balance sheet has surged by nearly $94.5 billion — a $297 billion increase from the last week when the banking crisis started.

Overall, the U.S. central bank’s liabilities have increased by $393 billion in the last two weeks to $8.734 trillion. That is closer to the all-time high of $8.95 trillion a year ago when the Fed started its quantitative tightening program and reduced its assets by $600 billion.

Federal Reserve balance sheet as on March 24. Source: FRED
BTC/USD daily price chart. Source: TradingView
Federal Reserve BTFP funding reserves. Source: FRED
Foreign official repo agreements at the Fed. Source: FRED
DXY daily price chart. Source: TradingView
KBW Nasdaq Bank Index weekly performance chart. Source: TradingView
Fed balance sheet vs. Bitcoin price performance. Source: TradingView
BTC/USD weekly price chart. Source: TradingView

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