The Federal Reserve’s balance sheet expanded by $18 billion in one week to $6.675 trillion after

The Federal Reserve’s balance sheet expanded by $18 billion in one week to $6.675 trillion after the Treasury executed a $15 billion buyback aimed at stabilizing bond markets; T‑bill purchases reached $381 billion, levels higher than during the 2020 crisis period ^[1].

Cryptocurrency markets are under renewed pressure ahead of Kevin Warsh’s April 16 Senate Banking Committee nomination hearing, with traders scaling back expectations for Fed rate cuts amid mixed economic data and an ongoing federal inquiry into the central bank that could add volatility ^[2].

Market pricing now largely discounts 2026 rate cuts and the Fed is expected to hold rates, while the U.S. faces a historic refinancing of more than $10 trillion in 2026—developments that could influence liquidity conditions and broader market dynamics relevant to crypto ^{[3] [4]}.

In sum, recent Treasury buybacks and T‑bill operations have increased Fed liquidity even as fading rate‑cut expectations and political scrutiny of the Fed create a volatile macro backdrop for crypto markets ^{[1] [2] [3] [4]}.