#以太坊行情解读 Recently, I have been looking at the changes in global capital flows, which is quite interesting.

The Bank of Japan announced an interest rate hike to 0.75% on December 19, 2023, marking the highest level in thirty years. Japanese retail investors, holding $15 trillion in household assets, are beginning to play a significant role in influencing global capital.

**Where does the money go?**

The Federal Reserve is cutting interest rates, while the Bank of Japan is raising them—this contrast has rendered the previous yen carry trade ineffective. As borrowing costs rise, some funds are starting to flow back into the yen. At the same time, Japanese households are withdrawing some money from dollar assets, turning towards domestic options or seeking new value anchors. This kind of retail-driven capital migration often has a greater impact than institutional actions.

**Where are the opportunities in the crypto market?**

Traditional market fluctuations have instead provided opportunities for crypto assets. Coins with strong consensus and active communities are becoming the focus for funds seeking asset resilience. Instead of passively waiting for the market to recover, it's better to pay attention to projects that are gaining popularity and building consensus. Market sentiment is here; let's see who can seize it.