The large-scale tax reduction policy launched by the Trump administration has attracted market follow. The latest news indicates that the United States plans to introduce a tax reduction plan for households amounting to approximately a trillion level, which reminds people of the market trend during the massive monetary easing in 2021.

At the same time, the global capital landscape is quietly changing. The Bank of Japan maintains a tightening stance, while the Federal Reserve has entered a rate-cutting cycle. This reversal of interest rate differentials has broken the long-standing arbitrage model of "borrowing yen to buy U.S. Treasuries." Japanese individual investors holding trillions of dollars in assets are facing repayment pressures, and a wave of large-scale selling of U.S. stocks and Treasuries seems to have already begun.

The earthquake in the traditional financial market will inevitably lead to funds seeking new places to go. At this critical moment, can cryptocurrencies like Bitcoin and Ethereum serve as true non-correlated hedging tools? This question is becoming increasingly real.

The logic of fund reallocation is clear: mainstream cryptocurrencies such as Bitcoin, Ethereum, and BNB remain the top choices, but at the same time, emerging projects within the Ethereum ecosystem are also starting to attract attention. Some innovative token projects that are hot topics in the community are positioning themselves for this wave of opportunities.

What kind of changes will the collision of Trump's fiscal stimulus policy and the cross-border flow of Japanese capital bring to the crypto market? It is worth following.