#以太坊行情解读 $BTC $ETH $BNB

The Bank of Japan has finally decided to raise interest rates to 0.75%, and the world's last "zero interest rate fortress" has collapsed.

How much impact does this have on carry trade? A report from China Merchants Bank suggests that 9 trillion yen might need to be liquidated. At first glance, that sounds alarming. But upon closer inspection, this number likely includes Japan's entire social debt, pensions, and petty cash in convenience stores. The truly urgent liquidations are not as exaggerated as they seem.

The yen is no longer "free water." Borrowing yen for carry trades used to be like getting it for free, but now you have to pay real money. For leverage traders who profit from yen depreciation, they’ll need to tighten their belts this time.

Will global liquidity evaporate directly? Don't worry. The worst-case scenario is just a shift from "flood" to "normal water supply"—more expensive, but the market can still operate, and trades will continue.

In the end, it’s simple: the yen has appreciated, the BOJ has finally calmed down, and the leverage guys on Wall Street are starting to eat dirt. 😂