#以太坊行情技术解读 Review of recent global central bank moves, which is indeed worth sorting out for crypto market investors:

**Monitoring key points breakdown:**

First are the direct triggers—Japan's central bank policy. The interest rate decision on the 19th, the signals from policy wording regarding the subsequent trajectory, plus the real-time fluctuations of the yen exchange rate, these three are hard indicators.

Next, look at the macro backdrop—the Federal Reserve's monetary policy pace. Statements in December and afterward directly influence global capital flows, forming the macro expectation framework.

Additionally, from an on-chain perspective—the inflows and outflows of funds at exchanges, the trend of total stablecoin market cap—using this dimension to verify whether market sentiment is tight or loose.

**Current liquidity landscape:**

The Federal Reserve has cut interest rates by 25 basis points, with the monthly repurchase volume reaching around $40 billion; China's central bank followed with rate cuts and RRR reductions; the European Central Bank remains on hold; Japan, on the 19th, adjusted interest rates upward by 25 basis points. Overall, the fiat liquidity in major economies is easing, which is indeed an incremental factor for long-term crypto assets.

**Positioning ideas and trading rhythm:**

At this stage, maintain spot allocations in main cryptocurrencies like $BTC, $ETH, $BNB. During short-term volatile markets, try to control trading frequency and wait for a clear unilateral trend before taking action. If there is idle capital for satellite allocations, some projects within the Ethereum ecosystem can be watched.

The key is not to get caught up in short-term noise, but to fully understand this policy window.