#以太坊行情技术解读 $ETH $BTC $ASTER

The Bank of Japan is about to change. December 19th could become a turning point for the global capital markets.

The central bank expects a rate hike to 0.75%, which seems like just 25 basis points, but what does this really mean? The 30-year zero-interest rate era is facing collapse. Over these 30 years, Japan has been a net exporter of global liquidity—funds continuously flowed into US stocks and emerging markets through yen arbitrage trading. The scale? $3-4 trillion. Imagine what would happen if this money started flowing in the opposite direction.

Now, the yield on Japan’s 10-year government bonds has already surged to 1.9%, just a hair away from 2%. Once it breaks through that line, bond prices will fall, collateral will shrink, and leverage structures will begin to destabilize. Investors have no choice but to sell assets—US stocks, emerging markets, cryptocurrencies—in a chain reaction. A-shares are also unlikely to stay unaffected.

But there are always winners in the market. Chinese government bonds, RMB-denominated assets, and high-dividend stocks may rise with the tide. Gold will be hammered in the short term, but the long-term logic remains unchanged—still the ultimate safe haven.

The key suspense remains unresolved: will the Bank of Japan really press this button? The global capital markets are now holding their breath, waiting for the answer on December 19th.