Bitcoin received a classic macro bullish signal on Tuesday as the U.S. Federal Reserve injected $13.5 billion in liquidity.

Key Points:

The Fed's liquidity operations signal to crypto and risk assets, with the total on December 1 comparable to the pandemic period.

Despite rumors surrounding Japan, the market still expects interest rates to decline.

Analysts warn that Bitcoin may still serve as a leading indicator for a significant "reversion" downward in risk assets.

Fed data uploaded to X by the analysis platform Barchart confirms that the latest round of quantitative tightening (QT) has quickly come to an end.

With the Fed officially halting its balance sheet reduction this month, Bitcoin and risk assets can receive a new liquidity shock.

Latest overnight repurchase (repo) trading data shows that $13.5 billion in liquidity entered the banking system on Tuesday.

This figure is particularly notable, being the second-largest overnight scale since the outbreak of the pandemic and the global stock market crash.

"Probably no problem, keep going," it commented, noting that this total even exceeded the peak of the internet bubble.

This move occurs at a delicate moment in the global central bank easing process extending through 2025. As Cointelegraph reported, concerns over Japan's financial stability have led the market to bet that its central bank will tighten conditions this month.

Meanwhile, the market expects the Fed to cut rates at its meeting on December 10 and continue doing so next year—this is crucial for the liquidity of risk assets.

"Since December is traditionally one of the strongest months for the market, the upward momentum is strong," trading resource The Kobeissi Letter wrote on Tuesday regarding U.S. stocks.

While the market optimistically hopes that stocks will consolidate their gains for 2025, the crypto market continues to diverge in an increasingly bearish manner.

For Bloomberg Intelligence senior commodity strategist Mike McGlone, risk assets may have already shown ominous signs.

"The extreme complacency in the stock market may indicate further downside for risk assets, with Bitcoin leading the way," he told followers on X on Monday.

McGlone bases his expectations of a "reversion" downward on Bitcoin's historical valuation relative to gold. If Bitcoin/USD were to trade at about 13 times the level of gold/USD, Bitcoin's price would be slightly above $50,000.

"With the ratio around 20 times on December 1, Bloomberg Economics' model shows that the reasonable value for Bitcoin/gold cross is closer to 13 times, with the primary reason for reaching that level being the S&P 500's 120-day volatility nearing its lowest year-end level since 2017," he stated.

Related: FDIC Acting Chair Says Stablecoin Legal Framework Will Be Introduced This Month

Original: “Fed Injects $13.5 Billion Overnight, Bitcoin (BTC) Hits Resistance at $50,000”

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