#美联储重启降息步伐 $ETH $SHIB $DOGE

Recently, the market has been discussing a very interesting phenomenon: the US is preparing to cut interest rates, while Japan is about to start tightening its monetary policy.

The last time such a policy divergence occurred was several years ago. What was the result back then? Capital flooded into the tech sector and high-risk assets like a tidal wave. Will history repeat itself this time?

💡 First, let's talk about why this cycle could be even more intense

Everyone understands US rate cuts—when borrowing costs go down, money naturally flows to places with higher returns. But the key factor here is Japan’s move—over the past decade or so, how many global hedge funds have made money through “yen carry trades”? Now, once Japan raises rates, all that money will have to unwind and be repatriated.

Liquidity doesn’t just disappear—it simply moves elsewhere. The question is: where will it flow?

Traditional stock markets are already overvalued, and bond yields aren’t attractive enough. In contrast, the flexibility of crypto assets has become an advantage. And among all the crypto assets, Ethereum’s position is quite unique.

⚡ Why Ethereum specifically?

First, it’s not a purely speculative asset. After the Layer-2 scaling upgrades, on-chain transaction costs have dropped to usable levels, and DeFi, NFTs, and blockchain gaming are all picking up again. Incoming capital now has real use cases to support it, not just empty speculation.

Second, institutional allocation logic has changed. With ETFs approved, traditional capital now has a clear path to enter the market—no more need to manage wallets and complicated cross-chain operations themselves. Once liquidity gets going, Ethereum is the easiest pool to amplify.

Finally, the timing is perfect. The technical upgrade just finished, and macro policies are lining up—this kind of double catalyst doesn’t happen often.

🎯 To put it simply: December could be a watershed moment

If the US really starts cutting rates and Japan follows suit, the speed at which capital is reallocated will be faster than most expect.

Ethereum’s current state is a bit like Bitcoin before the last bull run—the infrastructure is ready, all that’s missing is capital inflow.

Of course, markets never follow the script. But at least from both a policy and technical perspective, Ethereum is in the right place this time.