Deutsche Bank is signaling something big: the Federal Reserve may restart Quantitative Easing (QE) as early as Q1 2026. If this plays out, it won’t just be another policy shift — it would mark a full turn in the global liquidity cycle.
After years of tightening, rate hikes, and balance sheet reduction, the system is feeling the pressure. Growth is slowing, debt servicing costs are rising, and financial conditions are getting harder to manage. Historically, this is exactly the environment where central banks pivot.
QE isn’t just about “printing money.” It’s about injecting liquidity into the financial system, stabilizing markets, and lowering long-term borrowing costs. When QE returns, capital starts looking for returns again — and it doesn’t stay parked in cash for long.
This is where things get interesting 👇
When liquidity expands:
Risk appetite increases
Bonds rally first
Equities follow
Crypto and high-beta assets usually move last — but fastest
Every major bull cycle in crypto has been preceded by some form of monetary easing. 2020 wasn’t an exception — it was the blueprint. Liquidity flows in quietly, positioning happens early, and by the time headlines turn bullish, prices are already moving.
If QE really begins in Q1 2026, 2025 becomes the accumulation window, not the celebration phase. Markets don’t wait for announcements — they front-run them.
This also reframes the recent underperformance in crypto. Weak price action doesn’t mean the thesis is dead. It often means the cycle hasn’t flipped yet. Liquidity drives narratives, not the other way around.
Smart money prepares before the printer turns on.
Retail reacts after.
If Deutsche Bank is even partially right, the next 12–18 months could quietly set up the conditions for one of the most aggressive risk-on environments we’ve seen since the post-COVID era.
Get ready.
The money printer doesn’t announce itself — it just starts humming 💸