Recently, there are two major events in the global market worth paying attention to. One could truly stir up waves, while the other is essentially unfounded.

**There is quite a bit of movement over here in Japan, the interest rate hike is about to land.**
Although the official announcement has not been finalized, the remarks made by Bank of Japan Governor Kazuo Ueda on December 1st are clear enough—serious consideration of interest rate hikes will be on the agenda during the policy meeting on the 18th and 19th of this month. The market is quick to react, and the yen immediately strengthened, with the 10-year government bond yield soaring to its highest point since 2008. The probability of a rate hike in December indicated by the swap market has already surged to over 73%.

If this matter comes true, the impact is not to be taken lightly. Those yen arbitrage trades worth trillions of dollars need to be closed out quickly; investors will flock to sell U.S. stocks and bonds, moving their money back to Japan. The valuation of the U.S. tech sector will be suppressed, and emerging markets will face pressure from capital outflows. The more troublesome part is that Japan, as one of the largest overseas holders of U.S. Treasury bonds, will see a capital return that further pushes up U.S. bond yields. Global risk assets will have to endure tremendous selling pressure—Société Générale even warned that this could drag global economic growth down to 1% in 2026. The crypto market, as part of the risk assets, clearly cannot escape this wave of impact.

**Powell Resigning? Don't Listen to Those Unfounded Rumors**
As for the widely circulated news on social media about "Powell resigning on December 1st," it is completely unfounded. The Federal Reserve's official website clearly states that he has a public speaking engagement scheduled for that day, and there is no emergency meeting at all. Moreover, his term as chairman lasts until May 2026, and he has publicly stated multiple times that he intends to serve until the end of his term.

Such rumors can emerge a few times every month, but they do not attract follow-up reports from mainstream media and do not shake the market's fundamental trust in the stability of the U.S. financial system. At most, they stir up emotions in the short term; it is unrealistic to hope that they will trigger a large-scale shift of risk-averse funds.

#数字货币市场回升 $ETH