#大户持仓动态 🔥 Attention! The "invisible switch" of global capital flows may be in the hands of a group of Japanese retail investors.

Who are they? They are the Japanese retail investors who started from the foreign exchange market and have now ventured into the crypto space. Over the years, they have taken advantage of Japan's ultra-low interest rate environment, borrowing yen to invest in overseas high-yield assets (such as U.S. Treasuries and U.S. stocks), earning interest rate differentials—this is the classic "interest rate arbitrage" strategy. According to industry estimates, the scale of overseas assets held by the Japanese private sector has reached $4.4 trillion.

But now, the entire pattern is reversing:

· The Bank of Japan resumes interest rate hikes after 30 years.
· The market generally expects the Federal Reserve to cut interest rates next year.

One rise and one fall seem like two independent policy lines, but in reality, they shatter the previous logic of easy profits. The interest margin that used to bring in free profits is now facing soaring costs and shrinking returns. Some funds will inevitably pull out from U.S. stocks and bonds and flow back to Japan to cut losses or pay off debts—this is a natural market response and a trillion-dollar capital reallocation.

How will this impact the cryptocurrency market?

In the short term, when traditional markets experience severe volatility, the crypto sector can hardly remain unaffected. However, from a long-term perspective, this change perfectly validates the narrative logic of non-sovereign assets like $BTC. As central bank policies vary and traditional asset rules are being rewritten, truly smart capital will seek out those "anchors" that are not constrained by a single economic system. $ETH and other mainstream public chains will also usher in a new evaluation cycle—it's not just the mainstream coins; many assets that have accumulated real consensus within the ecosystem will instead become the barometer of market sentiment.

Have you thought about it? This wave of "Mrs. Watanabe" potential portfolio adjustment storm, will it first hit the crypto market hard, or will it ultimately become a catalyst?