logo

Analysis: The U.S. Treasury is set to withdraw $500-600 billion in cash from the market over the next two months, potentially leading to increased market illiquidity.

By: theblockbeats.news|2025/08/20 07:02:33

BlockBeats News, August 20th. Delphi Digital Market Research Institute published an article stating that in the coming weeks, the US Treasury Department will begin replenishing its General Account (TGA), a process that will withdraw $500–600 billion in cash from the market over approximately two months. At first glance, this may seem ordinary, but the current period is evolving into one of the most fragile liquidity environments of the past decade.


In 2023, the $550 billion TGA replenishment was cushioned by over $2 trillion of Fed reverse repo tools, healthy bank reserves, and robust overseas bond demand. Now, these cushions are no longer in place. The Fed is still consuming liquidity through Quantitative Tightening (QT), reverse repos are nearly exhausted, banks are constrained by losses and capital rules, and overseas buyers from China to Japan have also exited. The result is that every dollar raised by the Treasury Department this fall will be directly extracted from active market liquidity.


High-beta tokens tend to amplify downward movements during liquidity tightening. If stablecoin supply contracts during the TGA replenishment period, ETH and other high-risk assets may experience larger declines compared to BTC unless there is structural inflow of funds from ETFs or corporate treasuries. In a low-liquidity environment, position management and capital rotation across risk curves are more critical than ever.


If stablecoin expansion coincides with TGA rising, the crypto market may be more resilient to absorb the impact compared to previous cycles; if stablecoins contract, liquidity extraction will transmit faster and more intensely.

“Machi” pierde 1573 millones de dólares en 35 días; actualmente tiene pérdidas flotantes de 227 millones de dólares en posición larga con apalancamiento de 25 veces

También te puede gustar

Compartir
copy

Ganadores

Últimas noticias cripto

23:53

Las reuniones futuras de la Reserva Federal corren el riesgo de ver un aumento de los desacuerdos que alimentan la volatilidad del mercado

23:51

Tom Lee: La relación riesgo-recompensa de BTC y ETH se vuelve bastante atractiva

23:49

Coinbase ahora está en vivo con las operaciones al contado de Rayls (RLS)

17:52

Cierta dirección de ballena ha depositado 10 millones de U en HyperLiquid, iniciando una posición larga de 20x ETH.

17:21

Coinbase to List Rayls (RLS)

Más información
Comunidad
icon
icon
icon
icon
icon
icon
icon

Atención al cliente@weikecs

Cooperación comercial@weikecs

Trading cuantitativo y MM[email protected]

Servicios VIP[email protected]