#Ripple筹划设立10亿美元XRP资金池 2025 will see a dramatic shift in global monetary policy! Central banks "collectively hit the brakes," while Japan is racing in the opposite direction 🚨

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At the beginning of the year, global central banks were still competing in rate cuts—led by the Federal Reserve and the European Central Bank, with emerging markets following suit, cutting over 3,000 basis points. But by the end of the year, the script suddenly flipped.

The current landscape can be summed up in one word: division.

Most central banks have already "laid back." In Europe, Norway, Sweden, and other places, after completing rate cuts, they have remained inactive, keeping interest rates steady as if on a long holiday. The Federal Reserve nominally continues to cut rates, but the dot plot shows that hawkish forces inside have never dissipated; the Bank of England and the Bank of Canada, after cutting rates, have started to observe, with internal disagreements over policy direction becoming more apparent.

Only one central bank is operating in the opposite direction—Japan.

The Bank of Japan stubbornly defies the global trend, raising interest rates to 0.75% in December, the highest in 30 years. More importantly, the decision-makers hinted that they might continue to raise rates next year. While other central banks are easing, the BOJ is tightening alone, making this contrast all the more striking.

What does this reflect? The tide of "cheap money" that has supported global asset prices for years is receding. In a world where most central banks are choosing to wait and see, the BOJ's rate hikes act like a "straw," continuously draining global liquidity. High-risk assets that rely on arbitrage trading and depend on low-interest environments will feel the pressure first.

In this moment of liquidity reshaping, the standards for asset valuation are also changing. Assets with genuine scarcity and the ability to withstand inflation will gradually stand out, while those lacking fundamental support and driven solely by capital inflows will face pressure.

Standing at this critical crossroads, our choices are both simple and complex:

What does the BOJ's "solo" rate hike mean for crypto assets? Will short-term liquidity withdrawal cause shocks? Or, in the long run, will non-sovereign assets prove more valuable amid the reshaping of the financial landscape? Or is this cycle itself full of opportunities and risks?

Everyone's answer may differ. But one thing is certain: when the tide recedes, you'll see who’s swimming naked. This reshaping of liquidity patterns will be a key market indicator moving forward.