is the correct answer "Inflation of the denominator result in relatively higher valuation of the numerator?"

When considering how asset prices are quoted [BTC/USD]. How does QE impact the markets? Fundamental supply and demand principle. Inflation of the denominator results in favorable valuation of asset futures. Inflation of the numerator results in relatively higher valuation of risky =) Inflation of the numerator results in relatively higher valuation of the denominator. Inflation of the denominator results in relatively higher valuation of the numerator