#数字货币市场回升 Has the global liquidity turning point arrived? Two heavy blows may hit risk assets.

The Bank of Japan is serious this time. After the official interest rate hike cycle has begun, the Nikkei index has already given its answer — it has dropped quite sharply. The worse part is the skyrocketing borrowing costs, as arbitrage players relying on the yen with low interest rates to trigger global investments are now busy closing positions to stop losses. This influx of funds back to Japan directly means that the money flowing into other markets is decreasing. The crypto market, US stocks, emerging markets, none can escape the wave of the impact of this liquidity tightening.
On the other hand, the rumor that Powell "will step down early" is still developing. Although it is just a minor note in the market, his speech on Tuesday has become the focus of everyone's attention. The position of Federal Reserve Chair is not a usual one; once the wind starts blowing, policy expectations across the financial markets must be reassessed. Currently, risk-averse sentiment is starting to rise, and funds are waiting—should they withdraw first?
$BTC These instruments may need to adjust to a new environment where "money becomes scarcer" in the near future.