[Coinbase: The Federal Reserve shifts from balance sheet reduction to net injection, potentially supporting the crypto market] Coinbase Institutional analyzed on the X platform that the Federal Reserve announced a 25 basis point rate cut this week, which was in line with expectations. However, its plan to conduct U.S. Treasury Reserve Management Purchases (RMP) within the next 30 days is, at the very least, positive news. This liquidity injection comes earlier than anticipated, and reserve growth may continue until April 2026. Coinbase Institutional believes that the Federal Reserve's shift from balance sheet reduction to net injection is seen as 'mild quantitative easing' or 'implicit quantitative easing,' which could provide support to the cryptocurrency market. Combined with RMP and federal funds futures indicating two rate cuts (50 basis points) in the first nine months of 2026, it suggests that market hawkish sentiment may be lower than expected.