Recently, this matter is worth paying attention to. The US government has just announced a $200 billion mortgage-backed securities (MBS) purchase program.

The logical chain behind this move is actually quite clear:

**Step 1** - Directly entering the market to buy MBS bonds, lowering mortgage interest rates. This can ease the housing affordability pressure and stimulate housing market demand.

**Step 2** - With mortgage rates falling, the portion of expenses used for mortgage payments is released. This idle capital does not disappear into thin air.

**Step 3** - In a loose liquidity environment, this money seeks higher returns. High-risk assets like stocks and cryptocurrencies become the main destinations for this capital.

In simple terms, this is a form of quantitative easing. Risk assets like Bitcoin and Ethereum often enter an upward cycle in such environments. Historically, whenever the government releases large-scale liquidity, market risk appetite tends to rise significantly. This current move indeed provides a positive catalyst for cryptocurrencies like BTC.