Coinbase:美联储“隐形 QE”将对加密市场形成支撑,政策环境可能比预期更为温和

链捕手
Dec 13, 2025

ChainCatcher 消息,Coinbase Institutional 在社交媒体上发文表示,本周美联储宣布降息 25 个基点符合市场预期,但其未来 30 天内实施国债储备管理购买的计划,至少可以视为一个积极信号。

以下是该计划的具体安排:· 初始操作规模 400 亿美元· 启动时间为 12 月 12 日。这一流动性注入来得比预期更早,储备增长可能持续至 2026 年 4 月。我们认为,美联储从缩表转向净注入的行为可视为“轻度量化宽松”或“隐形 QE”,或将对加密货币市场形成支撑。结合储备管理购买计划与联邦基金期货市场对 2026 年前九个月再降息两次(共 50 个基点)的预期来看,政策环境可能比预期更为温和。

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