Instead of labeling it as quantitative easing (QE), it's important to recognize that the Federal Reserve's recent decision to purchase $40 billion worth of Treasury bills might not necessarily be the catalyst needed to revive the struggling cryptocurrency market from its ongoing downturn. Many investors and analysts remain skeptical about the effectiveness of such monetary policies in influencing the prices of digital assets, which have been grappling with various economic pressures and market sentiments. Therefore, the implications of these bill purchases may not translate to a positive shift in the fortunes of cryptocurrencies as some might hope.
source: https://www.coindesk.com/markets/2025/12/17/don-t-call-it-qe-the-fed-s-usd40-billion-of-bill-purchases-may-not-shake-crypto-out-of-its-slump