#数字货币市场洞察 $BTC $ETH $LUNC

There was an unexpected situation in Canada.

The market is now betting that the Bank of Canada will raise interest rates before October 2026—yes, you read that right, raise rates. Just a few months ago, everyone was still discussing when they would start cutting rates.

The turning point came abruptly: the November employment data was explosive. The unemployment rate dropped sharply, and new jobs far exceeded analysts’ expectations. With such a hot economy, inflationary pressure naturally followed. The central bank is probably having a headache; the window for rate cuts has basically closed, and raising rates is back on the agenda.

The bond market has already started to react. Government bonds are being heavily sold off, yields are surging, and tightening expectations are back.

This is actually quite interesting. While everyone is watching for when the Fed will inject liquidity, their northern neighbor might do the opposite. It highlights a simple truth: central banks won’t just follow each other step by step; their own economic data is the basis for decision-making. If employment is strong enough, even if the whole world is easing, tightening is still necessary.

If Canada really takes this step, it will definitely disrupt global capital flows. At the very least, the single-threaded narrative that “unlimited liquidity is coming soon” is now in question. Once liquidity expectations diverge, asset pricing logic will change accordingly.

Do you think this is a special case for one country, or will more central banks follow this independent path? Share your thoughts in the comments.