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The Federal Reserve’s weekly H.4.1 statistical release, published July 9, 2026, shows reserve bank credit climbing to $6.685 trillion. That’s an $8.39 billion increase from the prior week.
Reserve balances with Federal Reserve Banks jumped $132 billion in a single week, landing at $3.099 trillion.
What the numbers actually say
The Fed’s total securities held outright rose $7.77 billion to $6.450 trillion. That portfolio breaks down into $4.500 trillion in US Treasuries and $1.948 trillion in mortgage-backed securities.
Total factors supplying reserve funds hit $6.784 trillion, up $8.43 billion week-over-week.
Between 2022 and 2025, the Fed was actively running down its balance sheet through quantitative tightening. The balance sheet has stabilized around $6.7 trillion, and the Fed under Chair Kevin Warsh appears to be operating within what it calls an “ample reserves framework.”
Why crypto traders care about a central bank spreadsheet
The H.4.1 report doesn’t mention Bitcoin, Ethereum, or any digital asset. But the correlation between Fed liquidity conditions and crypto prices has become one of the most-watched relationships in digital asset markets.
The massive balance sheet expansion of 2020-2021, when the Fed’s holdings ballooned past $8 trillion, coincided with Bitcoin’s run from under $10K to nearly $69K. The subsequent QT cycle that began in mid-2022 accompanied a drawdown that wiped out more than 75% of Bitcoin’s value at its worst point.
The Fed isn’t actively expanding through new asset purchases in the way it did during COVID-era QE. The stabilization around $6.7 trillion, combined with growing reserve balances, reflects the central bank’s comfort with current liquidity levels, with interest rates remaining steady.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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