Thu, January 8, 2026 | 7:29PM ET

Tactical Setup Remains Intact as the White House Engages in Quasi-QE and a Supreme Court Decision Nears

Sean Farrell ^AC

Head of Digital Asset Strategy, Fundstrat

Discussed in today’s video:

The administration’s directive for Fannie Mae and Freddie Mac to purchase $200B of MBS reinforces a highly stimulative policy stance, functionally resembling fiscal-driven QE despite no direct Fed involvement.
Markets are focused on a potential Supreme Court ruling on Emergency Power Act tariffs, with consensus expectations skewed toward a strike-down and elevated near-term policy uncertainty.
My base case is a short-term positive crypto market response if the tariffs are struck down, driven by temporary tariff relief and a subsequent growth impulse, though volatility is likely to remain elevated.
Bitcoin defended its 50-day moving average nicely today, and U.S. spot demand returned, as evidenced by a re-emerging Coinbase premium.
Relative positioning is beginning to shift at the margin, with signs of SOL/ETH mean reversion and improving risk appetite as Strategy trades back toward a premium and equity-driven BTC demand re-enters.

Tactical Setup Remains Intact as the White House Engages in Quasi-QE and a Supreme Court Decision Nears

Tickers in this video: BTC -1.06% ETH -0.71% SOL

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