Commentators believe that Bitcoin (BTC) bulls do not need to wait long for the United States to start printing money again. The latest analysis of US macroeconomic data has led one market strategist to predict quantitative tightening (QT) ending to avoid a “catastrophic debt” crisis.”Analyst: Fed will have “no choice” with rate cutsThe US Federal Reserve continues to remove liquidity from the financial system to fight inflation, reversing years of COVID-19-era money printing.While interest rate hikes look set to continue declining in scope, some now believe that the Fed will soon have only one option — to halt the process altogether.” “Why the Fed will have no choice but to cut or risk a catastrophic debt crisis,” Sven Henrich, founder of NorthmanTrader, summarized on Jan. 27. “Higher for longer is a fantasy not rooted in math reality.” Henrich uploaded a chart showing interest payments on current US government expenditure, now hurtling toward $1 trillion a year. A dizzying number, the interest comes from US government debt being over $31 trillion, with the Fed printing trillions of dollars since March 2020. Since then, interest payments have increased by 42%, Henrich noted. The phenomenon has not gone unnoticed elsewhere in crypto circles. Popular Twitter account Wall Street Silver compared the interest payments as a portion of US tax revenue.”US paid $853 Billion in interest for $31 Trillion Debt in 2022; More than Defense Budget in 2023. If the Fed keeps rates at these levels (or higher) we will be at $1.2 trillion to $1.5 trillion in interest paid on the debt,” it wrote. “The US govt collects about $4.9 trillion in taxes.”Interest rates on US government debt chart (screenshot). Source: Wall Street Silver/ Twitter Such a scenario might be music to the ears of those with significant Bitcoin exposure. Periods of “easy” liquidity have corresponded with increased appetite for risk assets across the mainstream investment world. The Fed’s unwinding of that policy accompanied Bitcoin’s 2022 bear market, and a “pivot” in interest rate hikes is thus seen by many as the first sign of the “good” times returning. Crypto pain before pleasure? Not everyone, however, agrees that the impact on risk assets, including crypto, will be all-out positive prior to that. Related: Bitcoin ‘so bullish’ at $23K as analyst reveals new BTC price metricsAs Cointelegraph reported, ex-BitMEX CEO Arthur Hayes believes that chaos will come first, tanking Bitcoin and altcoins to new lows before any sort of long-term renaissance kicks in If the Fed faces a complete lack of options to avoid a meltdown, Hayes believes that the damage will have already been done before QT gives way to quantitative easing.”This scenario is less ideal because it would mean that everyone who is buying risky assets Now it would be in store for massive drawdowns in performance. 2023 could be just as bad as 2022 until the Fed pivots,” he wrote in a blog post this month.