2025-12-21 00:10:19

#数字资产市场洞察 $BTC $ETH $BNB

The Bank of Japan has finally toughened up—interest rates raised to 0.75%!

The world's last "zero interest rate paradise" announces its closure.

That 9 trillion yen carry trade position? Honestly, this number is somewhat inflated. The estimates from China Merchants may have bundled decades of Japanese external debt, financial products, and even loose change from convenience stores. The actual scale of unwinding is far less outrageous.

But on the other hand, the logic behind the yen's appreciation isn't wrong. Previously, using yen as "free chips" for carry trades worldwide—now the costs are real—borrowing costs actual cash. The carry trade community has fallen silent.

Will global liquidity collapse? Not likely. At most, it shifts from "massive liquidity infusion" to "normal supply"—costs are higher, but the market can still operate. Those leveraged positions sustained by low interest rates will need to be recalculated.

From another perspective: Japan's economy is starting to show some warmth, and Wall Street's leverage games are no longer playable. The performance of liquidity assets like BTC and ETH will depend on how global risk appetite shifts. 😂

BTC0.38%

ETH0.36%

BNB0.33%

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RealYieldWizard

· 5h ago

The recent actions of the Bank of Japan have directly pierced the bubble of carry trades; to be honest, it feels a bit爽 90 trillion is indeed a ridiculous number, but the wave of position closing is really coming Low-interest environmentalists are going to be unemployed, haha Whether BTC can take off with this tailwind still depends on risk appetite, but the argument for liquidity exhaustion can settle down The nightmare for leveraged traders is just beginning, hold tight to your position The carry trade in yen is dead, who will catch the falling knife next? Ah, this market trend will depend on how global funds flow, the underlying logic hasn’t broken The game rules of Wall Street have changed, we need to adjust our strategies accordingly.

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DevChive

· 6h ago

Well, the carry trade has dispersed, let's see who catches a falling knife --- 90 trillion? I believe you like a ghost, the numbers are really smooth --- Low-interest environmentalists collectively went bankrupt, that's fine --- Japan is tough? Wall Street is still lying flat --- Wait, is going all in on BTC buying the dip or catching a falling knife? --- The real reshuffling has begun, the leveraged traders should wake up --- Liquidity won't collapse but will get stuck, the shift in risk preference is key --- To put it bluntly, the era of clipping coupons is over, it's time to show true skills --- Whether the logic of yen appreciation is correct or not is irrelevant, the key is how the coin falls --- Those fund managers who rely on carry trades are definitely cursing now --- Here we go again, every time the central bank takes action, they say they will change the world, but nothing changes --- What I'm most afraid of is not liquidity drying up, but prices falling again

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DeadTrades_Walking

· 11h ago

Bro, this round of the carry trade crowd has really been slapped in the face. The move with the Japanese yen is too ruthless. --- Just ignore the figure of 9 trillion; there's too much water in it. --- Liquidity isn't that easy to collapse, but leveraged players definitely need to change their strategies. --- Whether BTC can take off by the opportunity depends on how global risk appetite shifts. --- The Bank of Japan finally stops pretending; this is normal financial environmental protection. --- It feels like the market is about to enter a new phase. Those who adapt will eat well. --- Recalculate the leveraged positions; many people might go bankrupt. --- The zero-interest era is over, and a bunch of carry trade strategies have to be thrown into the trash. --- Wall Street folks can't play the low-interest game. Let's see how they adjust.

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Blockblind

· 11h ago

90 trillion is indeed a staggering number; the carry trade game should come to an end. The Japanese yen has strengthened—how will the crypto market respond? Let's watch. As long as liquidity doesn't collapse, there's nothing to fear; it's just that those leveraged players might react unexpectedly. It feels like the Bank of Japan is really going to take serious action this time, finally dropping the pretense. Wall Street carry trade players should wake up; there's no free lunch. So, the underlying logic isn't wrong; the key is who admits defeat first. Whether BTC can surge this time depends entirely on how risk appetite shifts.

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FOMOmonster

· 11h ago

Carry traders are about to cry, the free lunch is gone The Japanese Yen has really come back to life, Wall Street has to admit defeat The 9 trillion figure is indeed exaggerated, it feels like everything is being stuffed into it Whether BTC can rise at this time depends on how risk appetite shifts As interest rates go up, leverage traders will have to recalculate, immense pressure With the Bank of Japan's move, the liquidity landscape will be reshuffled Once risk appetite adjusts, whether ETH can turn around is really uncertain The era of low interest rates is truly over, who will dare to add leverage recklessly afterward

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SerNgmi

· 11h ago

90 trillion in fake liquidity, that's a huge amount. The estimate from China Merchants Bank is really made up, and they even count small change from convenience stores haha. Arbitrage traders are going to suffer. Let's see how this wave of liquidity unfolds. Can BTC be bought at the bottom, everyone? The Bank of Japan's move really confused people. Is a leverage liquidation wave coming? Just wait and see.

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WalletDetective

· 11h ago

Wait, is 9 trillion really going to be fully wiped out? Feels exaggerated. Arbitrage traders are going to cry now; the good days are over. Will Japan's liquidity really tighten, or is this just another false alarm? Is this wave of BTC an opportunity or a trap? It all depends on how risk appetite shifts. Is the zero-interest era really over? It feels too fantastic. What about those leveraged positions relying on low interest rates? Do they need to be liquidated? Is the appreciation of the yen good or bad for the crypto market? Who can explain? The leverage game on Wall Street is coming to an end; what about ours?

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DarkPoolWatcher

· 11h ago

The number 9 trillion is really outrageous; anyway, the carry trade folks should admit defeat. --- With the Japanese yen raising interest rates, short-term pressure on altcoins is enormous. --- So basically, leveraged players should wake up. --- Now it's finally time to see whose fundamentals are truly solid. --- Liquidity hasn't collapsed, but costs have gone up. The days of wild growth are over. --- Carry trade positions need to exit; can BTC withstand this? --- The Wall Street playbook needs to be revised. It feels like a turning point. --- The Japanese have been holding back for so long; they've finally dared to raise interest rates, huh. --- The question is how many positions have already been exited; the data always seems to be manipulated. --- The key is the shift in global risk appetite; the crypto market depends on this.

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