#数字资产市场动态 $BIFI, $ZBT, $0G——These tokens have recently been quite popular.

Let's start with an interesting phenomenon: the Central Bank of Egypt just cut interest rates by another 100 basis points, bringing the benchmark rate to 20%. This is the fifth rate cut this year. At first glance, it seems to be Egypt's own matter, but the underlying implications are worth pondering.

**Why pay attention to this?**

A simple logical overview: Egypt can continue to cut rates because inflation has started to decline from high levels earlier. Similar scenarios are playing out globally——G10 central banks have cut rates 32 times in 2025 alone, with emerging markets acting even more frequently. In other words, the global liquidity environment is undergoing a fundamental change.

The US dollar is likely to weaken, which means low-yield cash becomes harder to earn. Money needs to find a place to go. Traditional financial assets have limited returns, so many funds are looking elsewhere.

**Two possible directions:**

One is emerging markets. With lower financing costs and relatively promising economic prospects, they have become hot money chasing targets.

The other is crypto assets. This is the core. When fiat currency credit is being re-priced through rate cuts, the "hedging" and "high volatility high returns" attributes of decentralized assets become especially attractive. Particularly Bitcoin, which institutional investors increasingly view as "digital tech stocks" rather than just "virtual currency."

**But don't be overly optimistic.**

Rate cuts are like a flame that can heat the market, but this fire will never burn out completely. Market volatility will intensify, and capital will become more selective——assets with stories will be more popular, while those lacking real fundamentals will be neglected. You can see institutional funds flooding into Bitcoin, but many small coins face dried-up trading volumes. The era of widespread bull markets may truly be over; now it's a period of structural differentiation.

**How to respond?**

Don't chase after hot topics blindly. Focus on mainstream assets that can genuinely benefit from the global liquidity tide and already have institutional consensus support (like Bitcoin), while remaining cautious of fringe tokens lacking fundamental backing. When the wind is at your back, make sure you're on the most stable vessel.