#数字货币市场回升 When the yields in Japan surge, the global strategy of borrowing yen for Arbitrage is actually under immense pressure - the interest rate differential is squeezed, and funds are being withdrawn. At this time, the Fed's interest rate cut is just able to hit the brakes at these two key positions.

Let’s first talk about the interest rate spread. Lowering interest rates can reduce the borrowing cost of the dollar, preventing the interest rate spread between the US and Japan from collapsing instantly. Those relying on the interest rate spread for profit through Carry Trade can at least continue to operate, avoiding a collective liquidation that could trigger a chain reaction. Of course, the premise is that the pace of interest rate cuts must keep up with the soaring yields in Japan; otherwise, it can only be considered a patch, addressing the symptoms rather than the root cause.

Looking at the liquidity aspect again. The yen interest rate hike will force the market to passively reduce positions, and at this time, the Fed's easing can inject some new liquidity. Although it cannot completely fill the gap, it can at least prevent the market from going haywire due to a lack of money.

Looking at the current market, everyone has witnessed the waterfall at the beginning of the month. The current mindset is still mainly bearish. A rebound to the range of 87530-88400 can be considered for shorting, with a target around 86650 to 85650. If it really drops to around 85520-85288, it would be worth attempting to catch a rebound, aiming for the upward space of 86250-87400. $BTC