# Is the Altcoin Rally Next?

I just came across this image, and there is a key number - SOMA: $14,825,704,800.
Many people don't understand what this means. In fact, there is only one core question: Has the Federal Reserve secretly started QE again?
In simple terms, technically speaking, yes; from a mechanism perspective, not really; from a market structure perspective, it hasn't stopped at all.
Let me give you an example and you'll understand—
Your family has decided to repay a maximum of 5000 yuan in loans each month (QT limit), but one month suddenly 8000 yuan of debt is due.
You can't default on your debt, so you paid 3000 to "buy" a portion of the debt, and then gradually repay it, ensuring that you do not exceed the budget limit of 5000.
This 3000 yuan is the "SOMA add-on."
The increase in SOMA replenishment scale indicates that QT is starting to hesitate. What the Federal Reserve is doing now is this: they talk about QT, but in reality, they are secretly buying bonds to replenish their positions. The name of balance sheet reduction still exists, but the marginal liquidity is turning. #山寨行情即将到来吗