Fed Net Liquidity Weekly Update: +$103B Two-Week InjectionWALCL-WTREGEN-RRPONTSYDFRED:WALCL-FRED:WTREGEN-FRED:RRPONTSYDTrifactorMacroEvery Thursday, the Federal Reserve releases the weekly snapshot of its balance sheet. While risk markets have been selling off sharply across Bitcoin (BTC) and equities, the underlying monetary plumbing tells a very different story: as of 12-Nov-2026 the Fed has now added net circulating liquidity for two consecutive weeks, injecting a combined +$103B (+1.79%) into the financial system over the past 14 days. Tracking net liquidity rather than headline total assets or price panic alone is critical because central bank liquidity is the primary engine of sustained market cycles. When price action sells off at the exact moment net liquidity is expanding, it creates a major macro divergence worth watching closely. Formula and Liquidity Mechanics Net Liquidity = Total Assets - Treasury General Account (TGA) - Domestic Reverse Repo (RRP) Both the Treasury cash buffer (TGA) and overnight reverse repo balances (RRP) are subtracted from total assets because capital sequestered in those accounts at the Federal Reserve sits outside commercial bank reserves and cannot circulate to bid on financial assets. Weekly Balance Sheet Ledger • Fed Total Assets: $6.759T • Less TGA Buffer: -$914B • Less Domestic RRP: -$162M • Net Dollar Liquidity: $5.844T • Week-over-Week Change: +$54B (+0.92% WoW) vs. prior week ($5.791T) • Two-Week Cumulative Raise: +$103B (+1.79%) over two consecutive weekly increases (+$49B last week and +$54B this week, up from $5.742T) Trend Baseline and Multi-Asset Implications • Trend Baseline: $5.822T • Baseline Spread: +$22B (+0.38% Surplus) • Liquidity Regime: Monetary Tap is Open Driven primarily by a $42.8B weekly drawdown in the Treasury cash buffer alongside $10.7B in Fed asset expansion, back-to-back weekly liquidity injections have lifted Net Liquidity back above its Trend Baseline despite the recent market crash. Holding above $5.822T keeps the macro liquidity tap open, while a weekly close back below $5.822T would re-close the tap and maintain defensive allocations across Bitcoin (BTC), Nasdaq-100 (QQQ), and Gold (XAU) until price momentum confirms a recovery. Track this metric live on your chart using my open-source indicator: Trifactor - Fed Net Dollar Liquidity . Read the complete quantitative backtest dossier and weekly execution logs via the profile header on my TradingView page. Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in Terms of Use.