Recently, I noticed a pretty interesting phenomenon: forecasts from the five major banks about the US QE timeline are rolling out one after another, and these forecasts have sparked a lot of discussion in the crypto market.

US banks expect the end of balance sheet reduction to be announced in October this year, with small-scale bond purchases starting in December. Citibank believes the announcement will be made in December, with official implementation in January next year, buying about $20 billion in government bonds each month. Barclays’ view is that it will start in February 2026, with $15 billion per month. Deutsche Bank and JPMorgan both point to early 2026, with QE beginning in the first quarter and in the early stage, respectively. Put simply, regardless of the exact timing, the consensus among these institutions is this—big money is coming.

What’s interesting is that even before the QE expectations have fully played out, the US government is already mulling other stimulus plans. A huge amount of funds is about to flow into financial markets—what that usually means for crypto assets, everyone should know.

Looking at the recent market action, Ethereum’s performance is indeed worth paying attention to. As the foundational infrastructure of the DeFi and NFT ecosystems, it has solid application support on its own. Combined with expectations that the Federal Reserve will pump liquidity, next year’s market landscape may have quite a bit of room for imagination. Some market observers have even set rather aggressive target prices. At the same time, it’s also noticeable that Ethereum’s ability to hold up during recent downturns has been clearer than Bitcoin’s—this may reflect the market’s renewed recognition of its application-layer value.

Against this kind of macro backdrop, emerging projects could indeed have an opportunity for a valuation re-assessment if they have truly standout tracks and ecological support. For example, some DeFi projects built on mainstream public chains gradually accumulate a user base thanks to lower transaction costs and innovative mechanism design. When large capital moves in, such projects often manage to catch a wave of market upside.

The current timing is definitely worth thinking through seriously when planning a strategy. However, it’s important to emphasize that crypto assets are highly volatile, and any decision should be based on rational judgment and your own risk tolerance—never let market sentiment lead you by the nose.