#数字货币市场回调 The Japanese government has just approved a stimulus plan of 21.3 trillion yen, the largest scale since the pandemic. 17.7 trillion will be directly injected into the market, along with 2.7 trillion in tax cuts—honestly, this is quite a bold move.

But how do you see the market reacting? The yen has fallen below a 10-month low, the yield on 40-year government bonds has reached a new high, and the scale of government bond issuance is even more exaggerated than last year. What do these signals mean?

Global liquidity may indeed be turning. Japan is the first to take action, with a year-on-year increase in stimulus scale of 27%, fully opening the taps. The question is, when government debt piles up like a mountain and traditional financial yields continue to decline, where will this released capital flow to?

In a zero interest rate environment, money has to find a place to go. Some say this is very similar to the window period in 2019—when Bitcoin was still hovering at the bottom. And now? If central banks around the world follow suit and inject liquidity, which sector do you think will be the first to absorb this wave of liquidity?

Is $BTC retesting its previous high? Stablecoin market cap hitting new records? Or have altcoins finally welcomed their spring? $ETH $BNB